Tower Research Capital LLC TRC Purchases 4,552 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Tower Research Capital LLC TRC increased its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 281.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,169 shares of the company's stock after purchasing an additional 4,552 shares during the period. Tower Research Capital LLC TRC's holdings in Planet Fitness were worth $610,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PLNT. Tidal Investments LLC increased its position in shares of Planet Fitness by 132.5% in the third quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock worth $2,352,000 after purchasing an additional 16,503 shares during the period. GAMMA Investing LLC increased its position 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 purchasing an additional 192 shares during the period. Everence Capital Management Inc. bought a new position in Planet Fitness in the fourth quarter valued at about $240,000. Nordea Investment Management AB raised its stake in Planet Fitness by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company's stock worth $18,205,000 after acquiring an additional 8,600 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in 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 acquiring an additional 1,853 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

Shares of Planet Fitness stock traded up $0.26 on Thursday, reaching $94.85. 1,419,583 shares of the company's stock were exchanged, compared to its average volume of 1,410,765. The company has a market capitalization of $8.03 billion, a P/E ratio of 50.99, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 52 week low of $58.51 and a 52 week high of $110.00. The firm's 50-day moving average is $95.65 and its two-hundred day moving average is $96.79.

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Stifel Nicolaus lowered their target price on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Roth Mkm reissued a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Piper Sandler boosted their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, Guggenheim boosted their target price on Planet Fitness from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Monday, April 14th. Five equities 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.72.

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.