Quantbot Technologies LP Takes $5.18 Million Position in Planet Fitness, Inc. (NYSE:PLNT)

Quantbot Technologies LP acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,425 shares of the company’s stock, valued at approximately $5,183,000. Quantbot Technologies LP owned 0.06% of Planet Fitness at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PLNT. UMB Bank n.a. raised its holdings in shares of Planet Fitness by 67.4% in the 4th 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 last quarter. R Squared Ltd bought a new stake in Planet Fitness in the 4th quarter worth about $39,000. Skandinaviska Enskilda Banken AB publ grew its position in Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after purchasing an additional 490 shares in the last quarter. Beaumont Financial Advisors LLC bought a new stake in Planet Fitness in the 4th quarter worth about $202,000. Finally, GAMMA Investing LLC grew its position in Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock worth $207,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analysts Set New Price Targets

PLNT has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective 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. DA Davidson reissued a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a research report on Thursday. They set a “buy” rating and a $120.00 target price for the company. Guggenheim reissued a “buy” rating and set a $105.00 target price on shares of Planet Fitness in a research report on Thursday, February 27th. Finally, Roth Mkm reissued a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.17.

Planet Fitness Stock Performance

PLNT stock opened at $95.56 on Friday. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $110.00. The firm’s fifty day moving average is $101.16 and its 200 day moving average is $93.24. The firm has a market cap of $8.09 billion, a P/E ratio of 51.38, a P/E/G ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last released its 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. The company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. As a group, analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Planet Fitness 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.