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Emerald Advisers LLC Acquires New Shares in Planet Fitness, Inc. (NYSE:PLNT)

Planet Fitness logo with Consumer Discretionary background

Emerald Advisers LLC acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,468 shares of the company's stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. lifted its holdings in Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after buying an additional 242 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after buying an additional 387 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after buying an additional 490 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Planet Fitness in the 4th quarter worth $57,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on PLNT. Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. BMO Capital Markets boosted their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Morgan Stanley boosted their price objective on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Guggenheim reissued a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Finally, Macquarie reaffirmed a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $106.63.

View Our Latest Stock Analysis on PLNT

Planet Fitness Trading Up 0.6%

Shares of NYSE PLNT traded up $0.66 during mid-day trading on Thursday, reaching $110.23. 1,287,670 shares of the company's stock were exchanged, compared to its average volume of 1,381,189. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 52.00, a PEG ratio of 2.43 and a beta of 1.33. The business has a fifty day simple moving average of $104.77 and a 200 day simple moving average of $101.06. Planet Fitness, Inc. has a twelve month low of $68.75 and a twelve month high of $113.15.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The firm had revenue of $276.66 million during the quarter, compared to the consensus estimate of $279.80 million. During the same quarter last year, the firm earned $0.53 earnings per share. The business's revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

About Planet Fitness

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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