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Schechter Investment Advisors LLC Invests $396,000 in Planet Fitness, Inc. (NYSE:PLNT)

Planet Fitness logo with Consumer Discretionary background

Schechter Investment Advisors LLC acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,097 shares of the company's stock, valued at approximately $396,000.

A number of other large investors have also made changes to their positions in PLNT. Renaissance Technologies LLC bought a new stake in shares of Planet Fitness in the 4th quarter valued at approximately $11,963,000. Freestone Grove Partners LP acquired a new stake in shares of Planet Fitness in the 4th quarter worth about $25,676,000. Jump Financial LLC bought a new position in Planet Fitness in the 4th quarter valued at $965,000. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Planet Fitness during the fourth quarter valued at about $3,378,000. Finally, KBC Group NV increased its position in shares of Planet Fitness by 13.7% during the first quarter. KBC Group NV now owns 3,503 shares of the company's stock valued at $338,000 after acquiring an additional 422 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PLNT shares. Macquarie restated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research report on Tuesday, May 13th. Guggenheim reiterated a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. BMO Capital Markets upped their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Finally, Morgan Stanley upped their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three equities research 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $106.63.

Get Our Latest Research Report on Planet Fitness

Planet Fitness Price Performance

Planet Fitness stock traded up $2.42 during midday trading on Friday, reaching $112.56. The company had a trading volume of 1,289,528 shares, compared to its average volume of 1,382,215. The firm's fifty day simple moving average is $105.15 and its 200-day simple moving average is $101.15. Planet Fitness, Inc. has a 12-month low of $68.75 and a 12-month high of $113.15. The company has a market capitalization of $9.48 billion, a P/E ratio of 53.09, a P/E/G ratio of 2.44 and a beta of 1.33.

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 firm had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. On average, analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness Company Profile

(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.

See Also

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

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