Algert Global LLC Increases Stake in Planet Fitness, Inc. (NYSE:PLNT)

Algert Global LLC raised its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 118.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,192 shares of the company's stock after buying an additional 34,228 shares during the period. Algert Global LLC owned approximately 0.07% of Planet Fitness worth $6,248,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PLNT. R Squared Ltd purchased a new stake in Planet Fitness during the 4th quarter worth about $39,000. UMB Bank n.a. grew its holdings in Planet Fitness by 67.4% during 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 in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $51,000. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new stake in shares of Planet Fitness during the 4th quarter worth $202,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PLNT shares. Piper Sandler upped their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Macquarie dropped their target price on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target for the company. Roth Mkm reaffirmed a "buy" rating and set a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Finally, DA Davidson reissued a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $101.72.

Planet Fitness Stock Performance

Planet Fitness stock opened at $99.15 on Monday. Planet Fitness, Inc. has a fifty-two week low of $59.16 and a fifty-two week high of $110.00. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 53.31, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. The stock's fifty day moving average is $95.74 and its two-hundred day moving average is $97.23.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $340.50 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal 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.

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