KLP Kapitalforvaltning AS Purchases New Position in Planet Fitness, Inc. (NYSE:PLNT)

KLP Kapitalforvaltning AS acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,100 shares of the company’s stock, valued at approximately $1,790,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. increased its stake in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares during the last quarter. R Squared Ltd bought a new stake in Planet Fitness in the fourth quarter worth $39,000. Skandinaviska Enskilda Banken AB publ increased its position in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after buying an additional 490 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new position in Planet Fitness during the fourth quarter worth $202,000. Finally, GAMMA Investing LLC lifted its position in shares of Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock worth $207,000 after buying an additional 192 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLNT has been the topic of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Stifel Nicolaus lowered their price target on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Piper Sandler boosted 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. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.17.

Planet Fitness Stock Down 1.4 %

Shares of PLNT opened at $99.21 on Friday. The stock’s 50-day moving average price is $100.63 and its 200 day moving average price is $94.53. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 53.34, a P/E/G ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 12-month low of $57.64 and a 12-month high of $110.00.

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

About Planet Fitness

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.