Kestra Advisory Services LLC bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,780 shares of the company’s stock, valued at approximately $573,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC bought a new position in shares of Planet Fitness during the 1st quarter worth approximately $599,000. Handelsinvest Investeringsforvaltning boosted its stake in shares of Planet Fitness by 5.0% during the 1st quarter. Handelsinvest Investeringsforvaltning now owns 105,000 shares of the company’s stock worth $8,870,000 after acquiring an additional 5,000 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Planet Fitness by 106.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 28,026 shares of the company’s stock worth $2,368,000 after purchasing an additional 14,463 shares during the last quarter. Tributary Capital Management LLC lifted its holdings in Planet Fitness by 16.2% during the 1st quarter. Tributary Capital Management LLC now owns 26,500 shares of the company’s stock worth $2,239,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Chicago Capital LLC lifted its holdings in Planet Fitness by 298.8% during the 1st quarter. Chicago Capital LLC now owns 477,079 shares of the company’s stock worth $40,304,000 after purchasing an additional 357,448 shares during the last quarter. 93.87% of the stock is currently owned by institutional investors.

Planet Fitness Stock Performance

Planet Fitness stock opened at $79.44 on Thursday. Planet Fitness, Inc. has a 52 week low of $61.11 and a 52 week high of $99.60. The stock has a market capitalization of $7.23 billion, a P/E ratio of 124.13, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The stock has a fifty day moving average of $69.65 and a 200-day moving average of $79.68.

Planet Fitness (NYSE:PLNTGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. During the same quarter in the previous year, the firm earned $0.10 EPS. Planet Fitness’s revenue was up 66.8% on a year-over-year basis. On average, research analysts forecast that Planet Fitness, Inc. will post 1.55 earnings per share for the current year.

Analyst Ratings Changes

PLNT has been the subject of several research reports. BNP Paribas raised Planet Fitness from an “underperform” rating to a “neutral” rating and set a $75.00 price target for the company in a report on Thursday, July 7th. Piper Sandler dropped their price target on Planet Fitness from $87.00 to $72.00 in a report on Wednesday, May 11th. StockNews.com initiated coverage on Planet Fitness in a report on Thursday, March 31st. They set a “hold” rating for the company. Robert W. Baird dropped their price target on Planet Fitness from $108.00 to $92.00 in a report on Wednesday, May 11th. Finally, DA Davidson dropped their price target on Planet Fitness from $110.00 to $90.00 in a report on Friday, May 13th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.92.

About Planet Fitness

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

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



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