Lisanti Capital Growth LLC Makes New $5.34 Million Investment in Planet Fitness, Inc. (NYSE:PLNT)

Lisanti Capital Growth LLC acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, Holdings Channel.com reports. The firm acquired 73,145 shares of the company’s stock, valued at approximately $5,340,000. Planet Fitness accounts for approximately 1.3% of Lisanti Capital Growth LLC’s portfolio, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of PLNT. Allworth Financial LP increased its stake in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new stake in Planet Fitness during the 4th quarter worth $47,000. Covestor Ltd raised its stake in Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after acquiring an additional 238 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Planet Fitness by 17.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Planet Fitness by 24.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after acquiring an additional 197 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on PLNT shares. DA Davidson reissued a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a report on Monday, February 5th. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a research note on Monday, April 1st. Piper Sandler lifted their target price on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. decreased their price target on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Finally, Stifel Nicolaus decreased their target price on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.21.

Planet Fitness Stock Performance

NYSE:PLNT traded up $1.10 during mid-day trading on Monday, reaching $60.63. The stock had a trading volume of 2,074,348 shares, compared to its average volume of 1,663,539. Planet Fitness, Inc. has a twelve month low of $44.13 and a twelve month high of $75.86. The business has a 50 day simple moving average of $61.50 and a 200 day simple moving average of $65.13. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 37.43, a PEG ratio of 1.93 and a beta of 1.37.

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