Comerica Bank Grows Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Comerica Bank grew its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 24.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,672 shares of the company's stock after buying an additional 13,354 shares during the period. Comerica Bank owned 0.08% of Planet Fitness worth $6,790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Planet Fitness by 48.1% in 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 acquiring an additional 2,570,826 shares during the period. Ninety One UK Ltd purchased a new stake in Planet Fitness during the 4th quarter worth about $130,376,000. Norges Bank bought a new position in Planet Fitness in the 4th quarter worth about $100,009,000. Invesco Ltd. grew its holdings in Planet Fitness by 199.7% during the 4th quarter. Invesco Ltd. now owns 482,732 shares of the company's stock valued at $47,728,000 after buying an additional 321,644 shares in the last quarter. Finally, Anomaly Capital Management LP lifted its holdings in shares of Planet Fitness by 20.3% in the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock worth $175,256,000 after buying an additional 299,148 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Up 4.6 %

Shares of Planet Fitness stock opened at $99.15 on Monday. The company's fifty day simple moving average is $95.74 and its two-hundred day simple moving average is $97.23. Planet Fitness, Inc. has a 12-month low of $59.16 and a 12-month high of $110.00. The firm has a market cap of $8.40 billion, a PE ratio of 53.31, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analysts' expectations of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness's quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on PLNT shares. DA Davidson reaffirmed a "neutral" rating and set a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. Macquarie reduced their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Piper Sandler raised their price target on Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, BMO Capital Markets boosted their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $101.72.

About Planet Fitness

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.