Xponance Inc. increased its stake in shares of Planet Fitness, Inc. (NYSE: PLNT – Get Rating) by 18.4% in Q4, according to the company in its latest filing with the Securities & Exchange Commission. The fund held 9,088 shares of the company after purchasing an additional 1,410 shares during the period. Xponance Inc.’s holdings in Planet Fitness were worth $716,000 at the end of the last quarter.

Several other hedge funds and other institutional investors have also been buying and selling stocks recently. Sandy Spring Bank increased its position in shares of Planet Fitness by 25.0% during the third quarter. Sandy Spring Bank now owns 2,500 shares of the company worth $144,000 after acquiring 500 more shares in the last quarter. Tudor Investment Corp Et Al acquired a new position in shares of Planet Fitness in Q3 worth approximately $8,260,000. Engineers Gate Manager LP bought a new equity stake in Planet Fitness in Q3 worth $2,054,000. MQS Management LLC bought a new stake in Planet Fitness stock in Q3 worth $242,000. Finally, Ergoteles LLC acquired a new equity stake in Planet Fitness during the third quarter at a value of $866,000. 94.56% of the shares are held by institutional investors and hedge funds.

Analysts set new price targets

The PLNT has been the subject of several recent analyst reports. Raymond James raised his price target on Planet Fitness shares from $92.00 to $95.00 and gave the company a “Strong Buy” rating in a Friday, Feb. 24, report. Cowen raised its target price on Planet Fitness from $90.00 to $92.00 and gave the company an “outperforming” rating in a Monday, Feb. 27 research report. Morgan Stanley raised its price target on Planet Fitness from $92.00 to $93.00 and gave the stock an “overweight” rating in a Monday, February 27 report. Stifel Nicolaus raised his price target on Planet Fitness from $82.00 to $93.00 and gave the stock a “buy” rating in a Friday, January 13 report. Finally, Piper Sandler raised her price target on Planet Fitness stock from $79.00 to $93.00 and gave the stock an “overweight” rating in a Thursday, Dec. 22 research report. Four investment analysts gave the stock a hold rating, eight gave the company a buy rating and one gave the company a strong buy rating. Based on MarketBeat data, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $90.67.

Planet Fitness trades up 0.1%

NYSE PLNT opened at $75.90 on Friday. The company has a market capitalization of $6.79 billion, a P/E ratio of 64.87, a PEG ratio of 1.41 and a beta of 1.30. The company has a fifty-day simple moving average of $78.88 and a 200-day simple moving average of $74.02. Planet Fitness, Inc. has a 12 month minimum of $54.15 and a 12 month maximum of $88.31.

Planet Fitness (NYSE:PLNT – Get Rating) last released quarterly earnings data on Thursday, February 23. The company reported earnings per share (EPS) of $0.53 for the quarter, beating consensus analyst estimates of $0.47 by $0.06. Planet Fitness had a net margin of 10.61% and a negative return on equity of 65.39%. The company posted revenue of $281.30 million in the quarter, compared to $271.48 million expected by analysts. During the same period last year, the company earned earnings per share of $0.26. The company’s revenue increased 53.2% year over year. Sell-side analysts expect Planet Fitness, Inc. to post EPS of 2.2 for the current year.

Profile Planet Fitness

(Get a rating)

Planet Fitness, Inc is engaged in the operation and franchise of fitness centers. It operates through the following segments: Franchise, Company-Owned Stores and Equipment. The Franchise segment includes activities related to the Company’s franchise operations in the United States, Puerto Rico, Canada, Dominican Republic, Panama, Mexico and Australia.

Further reading

Institutional ownership by quarter for Planet Fitness (NYSE: PLNT)

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