AlphaQuest LLC Decreases Position in Planet Fitness, Inc. (NYSE:PLNT)

AlphaQuest LLC reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 71.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,683 shares of the company’s stock after selling 6,821 shares during the period. AlphaQuest LLC’s holdings in Planet Fitness were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. M&T Bank Corp raised its stake in Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after purchasing an additional 124 shares during the last quarter. Cetera Trust Company N.A raised its position in shares of Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after buying an additional 135 shares during the last quarter. UMB Bank n.a. lifted 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 worth $39,000 after buying an additional 157 shares in the last quarter. Truist Financial Corp boosted its position in Planet Fitness by 1.3% during the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after acquiring an additional 161 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Planet Fitness by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after acquiring an additional 192 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Price Performance

NYSE:PLNT opened at $95.56 on Friday. The firm has a market capitalization of $8.09 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The business’s fifty day moving average price is $101.07 and its 200 day moving average price is $93.42. Planet Fitness, Inc. has a 12 month low of $54.35 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 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 the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 EPS. As a group, equities analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

PLNT has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus dropped their target price on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. DA Davidson restated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Piper Sandler boosted their target price 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 research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.17.

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.