Fred Alger Management LLC Boosts Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Fred Alger Management LLC lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 18.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 438,176 shares of the company's stock after purchasing an additional 69,786 shares during the period. Fred Alger Management LLC owned 0.52% of Planet Fitness worth $43,322,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Corient Private Wealth LLC increased its position in Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock worth $457,000 after buying an additional 94 shares during the period. Cetera Trust Company N.A raised its holdings in Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock valued at $268,000 after acquiring an additional 135 shares in the last quarter. UMB Bank n.a. lifted its position in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after purchasing an additional 157 shares during the period. Truist Financial Corp raised its stake in shares of Planet Fitness by 1.3% in the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company's stock valued at $1,249,000 after buying an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Planet Fitness by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock worth $207,000 after acquiring an additional 192 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Roth Mkm reiterated a "buy" rating and issued a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Macquarie decreased their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.

Planet Fitness Trading Down 3.6 %

Planet Fitness stock traded down $3.54 during mid-day trading on Friday, reaching $93.54. The company had a trading volume of 2,089,448 shares, compared to its average volume of 1,406,956. The business has a fifty day simple moving average of $96.30 and a 200 day simple moving average of $97.88. The company has a market cap of $7.92 billion, a P/E ratio of 50.29, a P/E/G ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a fifty-two week low of $60.56 and a fifty-two week high of $110.00.

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

Planet Fitness Company 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.