Northstar Advisory Group LLC Makes New $1.20 Million Investment in Planet Fitness, Inc. (NYSE:PLNT)

Northstar Advisory Group LLC acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,410 shares of the company's stock, valued at approximately $1,199,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted 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 during the period. Farther Finance Advisors LLC increased its holdings in shares of 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 during the last quarter. Proficio Capital Partners LLC purchased a new position in Planet Fitness in the fourth quarter worth about $51,000. Skandinaviska Enskilda Banken AB publ increased its stake in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Planet Fitness in the 4th quarter worth approximately $57,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Trading Up 1.7%

Planet Fitness stock traded up $1.78 during mid-day trading on Thursday, hitting $103.93. The company had a trading volume of 1,115,901 shares, compared to its average volume of 1,381,584. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 55.88, a P/E/G ratio of 2.45 and a beta of 1.33. The company's fifty day moving average is $98.67 and its 200-day moving average is $99.76. Planet Fitness, Inc. has a 12-month low of $68.75 and a 12-month high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The business had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on PLNT. Canaccord Genuity Group upped their price objective on Planet Fitness from $120.00 to $126.00 and gave the company a "buy" rating in a research report on Thursday. Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Macquarie reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a research report on Tuesday, May 13th. BMO Capital Markets upped their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $105.76.

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.