Renaissance Technologies LLC Invests $11.96 Million in Planet Fitness, Inc. (NYSE:PLNT)

Renaissance Technologies LLC acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 121,000 shares of the company's stock, valued at approximately $11,963,000. Renaissance Technologies LLC owned about 0.14% of Planet Fitness at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its stake in shares of Planet Fitness by 199.7% in the 4th quarter. Invesco Ltd. now owns 482,732 shares of the company's stock valued at $47,728,000 after acquiring an additional 321,644 shares during the last quarter. FMR LLC raised its position in Planet Fitness by 24.4% in the fourth quarter. FMR LLC now owns 989,642 shares of the company's stock valued at $97,846,000 after purchasing an additional 194,157 shares during the last quarter. 2Xideas AG acquired a new stake in shares of Planet Fitness during the fourth quarter valued at about $6,145,000. Wells Fargo & Company MN increased its stake in shares of Planet Fitness by 111.4% in the fourth quarter. Wells Fargo & Company MN now owns 183,784 shares of the company's stock valued at $18,171,000 after buying an additional 96,841 shares during the period. Finally, ExodusPoint Capital Management LP raised its holdings in Planet Fitness by 211.3% in the 4th quarter. ExodusPoint Capital Management LP now owns 44,330 shares of the company's stock valued at $4,383,000 after buying an additional 30,091 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded down $0.32 during midday trading on Monday, hitting $93.49. 91,512 shares of the stock traded hands, compared to its average volume of 1,429,164. Planet Fitness, Inc. has a one year low of $58.23 and a one year high of $110.00. The business has a 50 day moving average price of $96.46 and a two-hundred day moving average price of $96.20. The company has a market cap of $7.92 billion, a PE ratio of 50.33, a P/E/G ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the previous year, the business posted $0.60 EPS. Planet Fitness's quarterly revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Macquarie dropped their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Roth Mkm reiterated a "buy" rating and issued a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Piper Sandler lifted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Stifel Nicolaus decreased their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $101.72.

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.