Aquatic Capital Management LLC Buys Shares of 12,528 Planet Fitness, Inc. (NYSE:PLNT)

Aquatic Capital Management LLC acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,528 shares of the company's stock, valued at approximately $1,239,000.

A number of other institutional investors have also added to or reduced their stakes in PLNT. Susquehanna Fundamental Investments LLC bought a new position in shares of Planet Fitness during the fourth quarter valued at approximately $10,023,000. T. Rowe Price Investment Management Inc. lifted its holdings in Planet Fitness by 48.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after buying an additional 2,570,826 shares during the period. Pinebridge Investments L.P. boosted its position in Planet Fitness by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 33,927 shares of the company's stock valued at $3,354,000 after acquiring an additional 10,150 shares in the last quarter. Anomaly Capital Management LP increased its holdings in shares of Planet Fitness by 20.3% in the 4th quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after acquiring an additional 299,148 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Planet Fitness in the 4th quarter worth $290,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

Planet Fitness stock traded up $4.38 during midday trading on Friday, hitting $99.15. 1,129,479 shares of the company were exchanged, compared to its average volume of 1,410,086. The business has a fifty day simple moving average of $95.74 and a two-hundred day simple moving average of $96.99. The firm has a market capitalization of $8.40 billion, a PE ratio of 53.31, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a fifty-two week low of $59.16 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $324.57 million. During the same quarter last year, the company earned $0.60 EPS. The business's revenue was up 19.4% on a year-over-year basis. As a group, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLNT. Macquarie dropped their price objective on 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 report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. BMO Capital Markets raised their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Finally, Piper Sandler upped their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.72.

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.