MQS Management LLC Invests $242,000 in Planet Fitness, Inc. (NYSE:PLNT)
MQS Management LLC acquired a new position in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,191 shares of the company’s stock, valued at approximately $242,000.
Other large investors have also bought and sold shares of the company. Edmond DE Rothschild Holding S.A. boosted its position in shares of Planet Fitness by 4.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 3,447 shares of the company’s stock valued at $234,000 after purchasing an additional 145 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after acquiring an additional 157 shares during the period. Truist Financial Corp grew its holdings in Planet Fitness by 0.6% in the third quarter. Truist Financial Corp now owns 38,704 shares of the company’s stock worth $2,231,000 after purchasing an additional 215 shares during the period. Royal Bank of Canada increased its stake in shares of Planet Fitness by 1.1% during the third quarter. Royal Bank of Canada now owns 19,590 shares of the company’s stock valued at $1,129,000 after purchasing an additional 216 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Planet Fitness by 23.0% during the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock valued at $99,000 after purchasing an additional 219 shares during the last quarter. 94.56% of the stock is owned by institutional investors.
Planet Fitness Stock Performance
NYSE:PLNT opened at $76.22 on Friday. The stock has a 50-day simple moving average of $80.98 and a two-hundred day simple moving average of $73.08. The firm has a market capitalization of $6.82 billion, a PE ratio of 65.15, a P/E/G ratio of 1.40 and a beta of 1.30. Planet Fitness, Inc. has a 52-week low of $54.15 and a 52-week high of $88.31.
Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. Planet Fitness had a negative return on equity of 65.39% and a net margin of 10.61%. The company had revenue of $281.30 million during the quarter, compared to the consensus estimate of $271.48 million. During the same period in the previous year, the company posted $0.26 EPS. The firm’s revenue was up 53.2% on a year-over-year basis. Equities analysts forecast that Planet Fitness, Inc. will post 2.2 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Raymond James raised their price objective on Planet Fitness from $92.00 to $95.00 and gave the company a “strong-buy” rating in a research report on Friday, February 24th. Piper Sandler lifted their target price on shares of Planet Fitness from $79.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, December 22nd. StockNews.com initiated coverage on shares of Planet Fitness in a report on Thursday. They set a “hold” rating on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a research report on Friday, February 24th. Finally, Stifel Nicolaus upped their price target on Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a report on Friday, January 13th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.67.
About Planet Fitness
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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