Informed Momentum Co LLC Invests $1.77 Million in Planet Fitness, Inc. (NYSE:PLNT)

Key Points

• Informed Momentum Co LLC invested approximately $1.77 million in Planet Fitness, acquiring 18,324 shares of the stock during the first quarter.
• Wall Street analysts have rated Planet Fitness as a "Moderate Buy"**, with an average price target of $107.38.
• In the most recent earnings report, Planet Fitness reported $0.86 earnings per share, surpassing estimates and demonstrating a revenue increase of 13.3% year-over-year.

Informed Momentum Co LLC acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,324 shares of the company's stock, valued at approximately $1,770,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position 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 purchasing an additional 242 shares during the last quarter. CoreCap Advisors LLC grew its position 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 purchasing an additional 450 shares during the last quarter. Farther Finance Advisors LLC grew its position 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 purchasing an additional 387 shares during the last quarter. Lazard Asset Management LLC bought a new position in Planet Fitness in the 4th quarter worth about $57,000. Finally, New Age Alpha Advisors LLC bought a new position in Planet Fitness in the 1st quarter worth about $65,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Performance

Shares of NYSE:PLNT traded up $2.71 during mid-day trading on Friday, hitting $107.55. The stock had a trading volume of 1,014,645 shares, compared to its average volume of 1,500,286. Planet Fitness, Inc. has a 12-month low of $77.77 and a 12-month high of $114.47. The company has a market cap of $9.05 billion, a PE ratio of 47.80, a P/E/G ratio of 2.39 and a beta of 1.40. The company's 50 day moving average is $107.83 and its 200-day moving average is $101.91.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The company's revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PLNT shares. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, June 12th. Morgan Stanley increased their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Macquarie restated a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Guggenheim restated a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average price target of $107.38.

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.