AMJ Financial Wealth Management Invests $495,000 in Planet Fitness, Inc. (NYSE:PLNT)

AMJ Financial Wealth Management acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,010 shares of the company’s stock, valued at approximately $495,000.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. lifted its holdings in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares in the last quarter. R Squared Ltd acquired a new position in shares of Planet Fitness in the fourth quarter valued at approximately $39,000. Proficio Capital Partners LLC purchased a new position in shares of Planet Fitness during the fourth quarter valued at approximately $51,000. Point72 Hong Kong Ltd acquired a new stake in Planet Fitness during the third quarter worth approximately $200,000. Finally, Beaumont Financial Advisors LLC purchased a new stake in Planet Fitness in the 4th quarter worth approximately $202,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $92.84 on Tuesday. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $110.00. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. The firm’s fifty day moving average price is $102.00 and its 200 day moving average price is $92.59.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on PLNT. 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 reissued a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Robert W. Baird raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Raymond James upped their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $99.00.

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.