Fitness

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

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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.

See Also

Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNT – Get Rating).

Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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