Tidal Investments LLC Purchases 383 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Tidal Investments LLC boosted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,340 shares of the company’s stock after acquiring an additional 383 shares during the quarter. Tidal Investments LLC’s holdings in Planet Fitness were worth $2,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLNT. R Squared Ltd bought a new stake in Planet Fitness during the 4th quarter valued at $39,000. UMB Bank n.a. increased its holdings in Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the period. CoreCap Advisors LLC increased its holdings in Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after purchasing an additional 450 shares during the period. Proficio Capital Partners LLC purchased a new position in Planet Fitness during the 4th quarter valued at about $51,000. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Performance

Shares of PLNT opened at $103.96 on Thursday. The stock has a market cap of $8.75 billion, a PE ratio of 55.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a fifty-two week low of $60.56 and a fifty-two week high of $110.00. The firm’s 50-day simple moving average is $97.02 and its two-hundred day simple moving average is $98.69.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The business had revenue of $276.66 million during the quarter, compared to analysts’ expectations of $279.80 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Equities research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLNT. Morgan Stanley boosted their price target on Planet Fitness from $111.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Guggenheim reiterated a “buy” rating and issued a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Stifel Nicolaus cut their price target on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Finally, Macquarie reiterated a “neutral” rating and issued a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.00.

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.