State of Wyoming Boosts Stake in Planet Fitness, Inc. (NYSE:PLNT)

State of Wyoming increased its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 177.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,423 shares of the company's stock after purchasing an additional 4,752 shares during the quarter. State of Wyoming's holdings in Planet Fitness were worth $734,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in Planet Fitness during the fourth quarter worth about $11,963,000. Freestone Grove Partners LP purchased a new position in Planet Fitness during the fourth quarter worth about $25,676,000. Jump Financial LLC purchased a new position in Planet Fitness during the fourth quarter worth about $965,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Planet Fitness during the fourth quarter worth about $3,378,000. Finally, Raymond James Financial Inc. purchased a new position in Planet Fitness during the fourth quarter worth about $2,988,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BMO Capital Markets boosted their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the stock a "buy" rating in a report on Thursday. Morgan Stanley upped their price objective on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Finally, Guggenheim reiterated a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.11.

Planet Fitness Price Performance

PLNT traded up $0.54 during midday trading on Friday, reaching $105.34. 1,539,662 shares of the company's stock traded hands, compared to its average volume of 1,405,230. The firm has a fifty day moving average of $97.27 and a two-hundred day moving average of $99.15. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 56.64, a P/E/G ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a 52 week low of $60.56 and a 52 week high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last released 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). The business had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. Sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.