Whittier Trust Co. of Nevada Inc. Has $5.34 Million Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Whittier Trust Co. of Nevada Inc. lifted its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,974 shares of the company's stock after acquiring an additional 2,849 shares during the quarter. Whittier Trust Co. of Nevada Inc. owned 0.06% of Planet Fitness worth $5,336,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLNT. UMB Bank n.a. raised its stake in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after acquiring an additional 157 shares during the period. R Squared Ltd bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $39,000. Skandinaviska Enskilda Banken AB publ grew its stake in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after buying an additional 490 shares during the last quarter. Beaumont Financial Advisors LLC bought a new position in Planet Fitness during the 4th quarter worth $202,000. Finally, GAMMA Investing LLC increased its position in Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock worth $207,000 after buying an additional 192 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several recent research reports. Piper Sandler upped their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Stifel Nicolaus dropped their price objective on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Canaccord Genuity Group initiated coverage on Planet Fitness in a research note on Thursday, March 13th. They set a "buy" rating and a $120.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, DA Davidson restated a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $100.17.

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Planet Fitness Price Performance

PLNT traded up $0.88 on Wednesday, reaching $100.68. 944,258 shares of the company traded hands, compared to its average volume of 1,432,299. Planet Fitness, Inc. has a 52-week low of $57.64 and a 52-week high of $110.00. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 54.13, a PEG ratio of 2.45 and a beta of 1.54. The stock's 50 day moving average price is $100.89 and its 200-day moving average price is $94.45.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million for the quarter, compared to analysts' expectations of $324.57 million. During the same period in the previous year, the company posted $0.60 EPS. Planet Fitness's revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.