Avory & Company LLC Has $4.67 Million Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Avory & Company LLC reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,202 shares of the company’s stock after selling 6,450 shares during the quarter. Planet Fitness makes up approximately 2.6% of Avory & Company LLC’s holdings, making the stock its 11th largest holding. Avory & Company LLC’s holdings in Planet Fitness were worth $4,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tidal Investments LLC raised its position in Planet Fitness by 132.5% in the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after purchasing an additional 16,503 shares during the last quarter. State Street Corp raised its position in shares of Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after acquiring an additional 37,236 shares during the last quarter. Nkcfo LLC bought a new stake in shares of Planet Fitness during the 4th quarter valued at $1,088,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Planet Fitness in the 3rd quarter valued at $604,000. Finally, AMJ Financial Wealth Management bought a new stake in shares of Planet Fitness in the 4th quarter valued at $495,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Roth Mkm reaffirmed a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Macquarie dropped their target price on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. DA Davidson reissued a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Finally, Piper Sandler increased their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $96.53 on Thursday. The company’s fifty day moving average price is $101.89 and its 200-day moving average price is $92.71. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 51.90, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $110.00.

Planet Fitness (NYSE:PLNT) last announced 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. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.