Broad Bay Capital Management LP boosted its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 15.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,223,000 shares of the company’s stock after acquiring an additional 163,000 shares during the period. Planet Fitness accounts for approximately 10.4% of Broad Bay Capital Management LP’s portfolio, making the stock its 3rd largest holding. Broad Bay Capital Management LP owned approximately 1.39% of Planet Fitness worth $89,279,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. raised its stake in Planet Fitness by 39.1% in the 4th quarter. Point72 Asset Management L.P. now owns 1,837,231 shares of the company’s stock valued at $134,118,000 after acquiring an additional 516,790 shares during the period. Frontier Capital Management Co. LLC grew its holdings in Planet Fitness by 3.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 542,163 shares of the company’s stock valued at $39,578,000 after buying an additional 18,744 shares in the last quarter. CTF Capital Management LP purchased a new position in Planet Fitness during the 4th quarter valued at about $4,076,000. Junto Capital Management LP grew its holdings in Planet Fitness by 255.4% during the 4th quarter. Junto Capital Management LP now owns 756,934 shares of the company’s stock valued at $55,256,000 after buying an additional 543,942 shares in the last quarter. Finally, Visionary Wealth Advisors grew its holdings in Planet Fitness by 4.8% during the 4th quarter. Visionary Wealth Advisors now owns 10,935 shares of the company’s stock valued at $798,000 after buying an additional 500 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.
Planet Fitness Price Performance
Shares of PLNT opened at $72.50 on Friday. The firm has a market cap of $6.39 billion, a P/E ratio of 41.67, a P/E/G ratio of 2.39 and a beta of 1.43. The stock has a 50 day simple moving average of $63.15 and a two-hundred day simple moving average of $66.12. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 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, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. Planet Fitness’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.42 earnings per share for the current year.
Analyst Ratings Changes
PLNT has been the subject of a number of recent analyst reports. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Robert W. Baird lifted their target price on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, May 10th. DA Davidson reaffirmed a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a report on Thursday, May 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $78.00 in a report on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.00.
Read Our Latest Research Report on Planet Fitness
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.
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