Accurate Wealth Management LLC Grows Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Accurate Wealth Management LLC lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 28.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,018 shares of the company’s stock after buying an additional 2,199 shares during the quarter. Accurate Wealth Management LLC’s holdings in Planet Fitness were worth $1,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PLNT. M&T Bank Corp boosted its position in Planet Fitness by 2.6% during the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after acquiring an additional 124 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Planet Fitness by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock worth $247,000 after purchasing an additional 132 shares during the period. Creative Planning boosted its holdings in shares of Planet Fitness by 2.1% during the third quarter. Creative Planning now owns 9,144 shares of the company’s stock worth $743,000 after purchasing an additional 192 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after purchasing an additional 192 shares during the period. Finally, V Square Quantitative Management LLC grew its position in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLNT has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price target on Planet Fitness from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Piper Sandler raised their target price 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. Robert W. Baird upped their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. DA Davidson upped their price objective on Planet Fitness from $70.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, JPMorgan Chase & Co. increased their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.13.

Insider Buying and Selling at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.94% of the stock is currently owned by insiders.

Planet Fitness Trading Up 3.0 %

PLNT stock opened at $104.58 on Wednesday. The firm has a 50 day simple moving average of $98.65 and a 200-day simple moving average of $85.84. The company has a market capitalization of $8.85 billion, a P/E ratio of 56.23, a PEG ratio of 3.33 and a beta of 1.52. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $105.77.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current 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.