Northern Trust Corp Buys 136,492 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Northern Trust Corp increased its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 723,969 shares of the company's stock after purchasing an additional 136,492 shares during the quarter. Northern Trust Corp owned approximately 0.86% of Planet Fitness worth $71,579,000 as of its most recent SEC filing.

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

Planet Fitness Price Performance

NYSE PLNT traded down $3.54 during mid-day trading on Friday, reaching $93.54. 2,089,448 shares of the stock were exchanged, compared to its average volume of 1,406,956. Planet Fitness, Inc. has a one year low of $60.56 and a one year high of $110.00. The stock 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. The stock has a 50 day simple moving average of $96.30 and a 200-day simple moving average of $97.88.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results 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 net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $276.66 million during the quarter, compared to the consensus estimate of $279.80 million. During the same period last year, the firm posted $0.53 earnings per share. The company's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analysts Set New Price Targets

PLNT has been the topic of a number of research analyst reports. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 target price on the stock. Morgan Stanley raised their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday. BMO Capital Markets raised their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Macquarie dropped their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.

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.