Elwood Capital Partners LP Acquires New Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Elwood Capital Partners LP bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 46,505 shares of the company’s stock, valued at approximately $4,598,000. Planet Fitness accounts for 4.5% of Elwood Capital Partners LP’s investment portfolio, making the stock its 6th largest position. Elwood Capital Partners LP owned 0.05% of Planet Fitness at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLNT. Ninety One UK Ltd acquired a new stake in shares of Planet Fitness in the 4th quarter worth approximately $130,376,000. Norges Bank purchased a new position in shares of Planet Fitness during the fourth quarter valued at $100,009,000. FMR LLC grew its stake in Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after acquiring an additional 691,761 shares in the last quarter. WCM Investment Management LLC acquired a new position in Planet Fitness in the 4th quarter valued at approximately $22,289,000. Finally, Artemis Investment Management LLP acquired a new position in shares of Planet Fitness in the fourth quarter worth $18,767,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $96.56 on Tuesday. The stock’s 50 day moving average is $100.30 and its 200 day moving average is $94.93. Planet Fitness, Inc. has a one year low of $57.64 and a one year high of $110.00. The firm has a market cap of $8.18 billion, a P/E ratio of 51.91, a P/E/G ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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 business had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the firm posted $0.60 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. Equities analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLNT has been the topic of a number of research reports. BMO Capital Markets increased their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday. Macquarie cut their price objective on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. DA Davidson restated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Roth Mkm restated a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus lowered their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Five 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 company’s stock. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

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.