207,000 Shares in Planet Fitness, Inc. (NYSE:PLNT) Purchased by National Bank of Canada FI

National Bank of Canada FI acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 207,000 shares of the company's stock, valued at approximately $15,103,000. National Bank of Canada FI owned 0.23% of Planet Fitness at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cadian Capital Management LP lifted its position in Planet Fitness by 164.7% in the third quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company's stock worth $198,860,000 after purchasing an additional 2,516,007 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Planet Fitness by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,659,856 shares of the company's stock worth $130,812,000 after acquiring an additional 12,139 shares during the period. Bamco Inc. NY grew its stake in Planet Fitness by 20.0% during the third quarter. Bamco Inc. NY now owns 1,200,000 shares of the company's stock worth $59,016,000 after buying an additional 200,000 shares during the last quarter. American Century Companies Inc. raised its position in shares of Planet Fitness by 66.8% in the 3rd quarter. American Century Companies Inc. now owns 877,723 shares of the company's stock valued at $43,166,000 after acquiring an additional 351,401 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Planet Fitness by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 851,951 shares of the company's stock worth $41,899,000 after purchasing an additional 29,512 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

PLNT has been the subject of a number of recent analyst reports. Piper Sandler increased their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, January 11th. Morgan Stanley restated an "overweight" rating and issued a $79.00 price objective on shares of Planet Fitness in a report on Monday, April 1st. Royal Bank of Canada upped their target price on Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 5th. DA Davidson reissued a "neutral" rating and issued a $62.00 price target on shares of Planet Fitness in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a research note on Monday, February 26th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $70.21.

Planet Fitness Trading Down 0.3 %

NYSE:PLNT traded down $0.16 during mid-day trading on Wednesday, hitting $61.86. The stock had a trading volume of 2,214,413 shares, compared to its average volume of 1,677,937. The company has a 50 day simple moving average of $61.44 and a 200-day simple moving average of $65.24. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 38.28, a P/E/G ratio of 1.93 and a beta of 1.37. Planet Fitness, Inc. has a 52 week low of $44.13 and a 52 week high of $75.86.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The firm had revenue of $285.10 million during the quarter, compared to analysts' expectations of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 2.48 earnings per share for the current year.

About Planet Fitness

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.