Hancock Whitney Corp Raises Stake in Planet Fitness Inc (NYSE:PLNT)

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Hancock Whitney Corp raised its stake in Planet Fitness Inc (NYSE:PLNT) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,477 shares of the company’s stock after buying an additional 294 shares during the quarter. Hancock Whitney Corp’s holdings in Planet Fitness were worth $2,052,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Planet Fitness by 18.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,409 shares of the company’s stock valued at $949,000 after purchasing an additional 2,538 shares during the last quarter. Covenant Asset Management LLC grew its holdings in shares of Planet Fitness by 7.9% during the third quarter. Covenant Asset Management LLC now owns 17,639 shares of the company’s stock valued at $1,021,000 after purchasing an additional 1,293 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Planet Fitness by 19.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 8,689 shares of the company’s stock valued at $503,000 after purchasing an additional 1,390 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Planet Fitness by 1.1% during the third quarter. Whittier Trust Co. now owns 42,488 shares of the company’s stock valued at $2,458,000 after purchasing an additional 466 shares during the last quarter. Finally, Brinker Capital Inc. bought a new position in shares of Planet Fitness during the third quarter valued at approximately $260,000. Institutional investors own 90.15% of the company’s stock.

Several research firms have recently commented on PLNT. Roth Capital lowered their target price on Planet Fitness from $86.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 8th. BMO Capital Markets began coverage on Planet Fitness in a report on Monday, February 3rd. They issued an “outperform” rating and a $90.00 price objective for the company. Macquarie reissued a “buy” rating and issued a $90.00 price objective on shares of Planet Fitness in a report on Monday, November 25th. Piper Jaffray Companies reissued a “buy” rating and issued a $84.00 price objective on shares of Planet Fitness in a report on Wednesday, November 13th. Finally, Imperial Capital increased their price objective on Planet Fitness from $72.50 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $80.50.

Shares of PLNT stock opened at $86.46 on Friday. Planet Fitness Inc has a 12-month low of $56.14 and a 12-month high of $86.46. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of 65.01, a price-to-earnings-growth ratio of 2.11 and a beta of 0.65. The business has a 50 day simple moving average of $79.12 and a 200 day simple moving average of $70.44.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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