AlphaQuest LLC Cuts Stake in Planet Fitness, Inc. (NYSE:PLNT)

AlphaQuest LLC cut its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 71.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,683 shares of the company’s stock after selling 6,821 shares during the quarter. AlphaQuest LLC’s holdings in Planet Fitness were worth $265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Personal CFO Solutions LLC bought a new stake in Planet Fitness during the 4th quarter valued at $210,000. Lisanti Capital Growth LLC lifted its stake in shares of Planet Fitness by 2.5% during the 4th quarter. Lisanti Capital Growth LLC now owns 65,670 shares of the company’s stock worth $6,493,000 after purchasing an additional 1,575 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Planet Fitness during the fourth quarter valued at about $2,988,000. Proficio Capital Partners LLC purchased a new position in shares of Planet Fitness in the 4th quarter worth approximately $51,000. Finally, AMJ Financial Wealth Management purchased a new position in Planet Fitness in the fourth quarter worth $495,000. 95.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on PLNT shares. DA Davidson reiterated a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. 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 report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $105.00 price target on shares of Planet Fitness in a report on Thursday, February 27th. Finally, Piper Sandler lifted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.17.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $95.56 on Friday. The firm has a 50-day simple moving average of $101.07 and a two-hundred day simple moving average of $93.42. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The company has a market cap of $8.09 billion, a P/E ratio of 51.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 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 19.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. Equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current 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.