Redwood Investment Management LLC Takes $1.43 Million Position in Planet Fitness, Inc. (NYSE:PLNT)

Redwood Investment Management LLC bought a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,432 shares of the company's stock, valued at approximately $1,427,000.

Other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new stake in Planet Fitness during the fourth quarter worth about $39,000. UMB Bank n.a. increased its position in 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 purchasing an additional 157 shares in the last quarter. CoreCap Advisors LLC increased its position in Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after purchasing an additional 450 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Planet Fitness in the fourth quarter valued at approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after buying an additional 490 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PLNT shares. Macquarie reissued a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Guggenheim reiterated a "buy" rating and issued a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Roth Mkm reissued a "buy" rating and issued a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Finally, DA Davidson reiterated a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Four research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $103.00.

Planet Fitness Stock Up 0.7%

Shares of PLNT traded up $0.68 during trading on Wednesday, reaching $104.09. The company's stock had a trading volume of 547,478 shares, compared to its average volume of 1,398,130. Planet Fitness, Inc. has a twelve month low of $60.56 and a twelve month high of $110.00. The company has a market cap of $8.76 billion, a price-to-earnings ratio of 56.06, a P/E/G ratio of 2.45 and a beta of 1.33. The company has a fifty day moving average of $96.85 and a two-hundred day moving average of $98.66.

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 (EPS) 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 analyst estimates of $279.80 million. During the same period in the prior year, the company earned $0.53 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. As a group, equities analysts forecast that Planet Fitness, Inc. will post 2.51 EPS 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.