M&T Bank Corp bought a new stake in Planet Fitness, Inc. (NYSE:PLNT – Free Report) in the fourth quarter, HoldingsChannel reports. The fund bought 4,189 shares of the company’s stock, valued at approximately $306,000.
Several other large investors also recently modified their holdings of PLNT. Asset Management One Co. Ltd. lifted its holdings in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares in the last quarter. Amalgamated Bank raised its holdings in Planet Fitness by 0.3% during the 4th quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after buying an additional 179 shares during the period. Treasurer of the State of North Carolina lifted its stake in Planet Fitness by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after buying an additional 190 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Planet Fitness by 24.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after buying an additional 197 shares during the period. Finally, Covestor Ltd increased its position in shares of Planet Fitness by 19.5% during the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after acquiring an additional 238 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.
Planet Fitness Price Performance
Shares of PLNT stock opened at $65.38 on Friday. The stock has a market cap of $5.76 billion, a P/E ratio of 37.57, a P/E/G ratio of 2.21 and a beta of 1.37. The company has a fifty day moving average price of $61.66 and a two-hundred day moving average price of $65.61. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. Planet Fitness’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 2.42 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $78.00 in a research note on Tuesday. DA Davidson reiterated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a report on Thursday, May 9th. Raymond James boosted their target price on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Monday, April 1st. Finally, Robert W. Baird boosted their price objective on shares of Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $71.86.
Read Our Latest Analysis on Planet Fitness
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.
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