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

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

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the period. R Squared Ltd acquired a new stake in Planet Fitness in the 4th quarter valued at approximately $39,000. Skandinaviska Enskilda Banken AB publ raised its stake in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after acquiring an additional 490 shares in the last quarter. Beaumont Financial Advisors LLC acquired a new position in Planet Fitness during the 4th quarter worth $202,000. Finally, GAMMA Investing LLC grew its stake 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 purchasing an additional 192 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Down 1.4 %

Shares of Planet Fitness stock opened at $99.21 on Friday. Planet Fitness, Inc. has a 12 month low of $57.64 and a 12 month high of $110.00. The stock has a market cap of $8.40 billion, a PE ratio of 53.34, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The business has a fifty day simple moving average of $100.63 and a 200-day simple moving average of $94.53.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. Analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Ratings Changes

PLNT has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective 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. Macquarie decreased their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Roth Mkm restated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Piper Sandler lifted their price target on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Company 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.