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

Northern Trust Corp increased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 723,969 shares of the company's stock after buying an additional 136,492 shares during the quarter. Northern Trust Corp owned 0.86% of Planet Fitness worth $71,579,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Planet Fitness by 10.1% in the fourth 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 last quarter. Everence Capital Management Inc. bought a new position in Planet Fitness in the 4th quarter valued at approximately $240,000. Nordea Investment Management AB boosted its position in Planet Fitness by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company's stock valued at $18,205,000 after buying an additional 8,600 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of Planet Fitness by 71.9% during the fourth quarter. Fulton Bank N.A. now owns 4,429 shares of the company's stock worth $438,000 after buying an additional 1,853 shares during the last quarter. Finally, Accurate Wealth Management LLC increased its holdings in shares of Planet Fitness by 28.1% during the fourth quarter. Accurate Wealth Management LLC now owns 10,018 shares of the company's stock worth $1,016,000 after buying an additional 2,199 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLNT shares. Piper Sandler boosted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Guggenheim upped their price objective on Planet Fitness from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. lifted their target price 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. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target for the company. Finally, Macquarie cut their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.72.

Planet Fitness Price Performance

Shares of PLNT opened at $98.33 on Tuesday. Planet Fitness, Inc. has a 1 year low of $59.16 and a 1 year high of $110.00. The stock's fifty day moving average price is $95.90 and its two-hundred day moving average price is $97.36. The firm has a market cap of $8.33 billion, a PE ratio of 52.87, a PEG ratio of 2.45 and a beta of 1.33.

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

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