3,160 Shares in Planet Fitness, Inc. (NYSE:PLNT) Acquired by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,160 shares of the company’s stock, valued at approximately $231,000.

A number of other hedge funds also recently bought and sold shares of PLNT. American Century Companies Inc. grew its stake 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 purchasing an additional 351,401 shares during the period. Oak Thistle LLC acquired a new stake in shares of Planet Fitness during the fourth quarter worth about $389,000. Graham Capital Management L.P. bought a new position in Planet Fitness in the third quarter valued at $944,000. Pacer Advisors Inc. increased its stake in shares of Planet Fitness by 80.4% during the 4th quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock worth $937,000 after purchasing an additional 5,719 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in Planet Fitness by 3.4% during the fourth quarter. Diversified Trust Co now owns 20,256 shares of the company’s stock worth $1,479,000 after purchasing an additional 659 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLNT. JPMorgan Chase & Co. cut their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Morgan Stanley reissued an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a research note on Monday, April 1st. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Piper Sandler increased their price target on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, January 11th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus target price of $70.21.

Planet Fitness Price Performance

Shares of NYSE PLNT traded up $1.10 during mid-day trading on Monday, hitting $60.63. 2,074,348 shares of the company’s stock traded hands, compared to its average volume of 1,663,539. The company has a market capitalization of $5.35 billion, a P/E ratio of 36.75, a PEG ratio of 1.93 and a beta of 1.37. The company’s 50-day moving average is $61.50 and its two-hundred day moving average is $65.13. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $75.86.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. Planet Fitness’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Equities analysts anticipate that Planet Fitness, Inc. will post 2.48 EPS for the current fiscal year.

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.