Jump Financial LLC Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Jump Financial LLC bought a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,758 shares of the company's stock, valued at approximately $965,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Ninety One UK Ltd purchased a new position in Planet Fitness in the fourth quarter valued at approximately $130,376,000. Norges Bank acquired a new position in shares of Planet Fitness in the 4th quarter valued at $100,009,000. Invesco Ltd. grew its position in shares of Planet Fitness by 199.7% in the 4th quarter. Invesco Ltd. now owns 482,732 shares of the company's stock valued at $47,728,000 after buying an additional 321,644 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Planet Fitness during the 4th quarter worth $22,289,000. Finally, FMR LLC lifted its position in Planet Fitness by 24.4% in the fourth quarter. FMR LLC now owns 989,642 shares of the company's stock valued at $97,846,000 after acquiring an additional 194,157 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

PLNT has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Roth Mkm reiterated a "buy" rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Stifel Nicolaus cut their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, BMO Capital Markets upped their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and a consensus price target of $101.72.

Planet Fitness Stock Performance

PLNT stock traded down $0.56 on Friday, reaching $95.77. The company had a trading volume of 1,077,698 shares, compared to its average volume of 1,417,452. Planet Fitness, Inc. has a 1 year low of $58.51 and a 1 year high of $110.00. The company's fifty day moving average is $95.85 and its 200 day moving average is $96.70. The company has a market cap of $8.11 billion, a P/E ratio of 51.49, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm's quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share 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.