R Squared Ltd Purchases Shares of 390 Planet Fitness, Inc. (NYSE:PLNT)

R Squared Ltd purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 390 shares of the company’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after buying an additional 691,761 shares during the period. Artemis Investment Management LLP acquired a new stake in shares of Planet Fitness during the fourth quarter worth $18,767,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Planet Fitness during the third quarter worth $13,592,000. Lisanti Capital Growth LLC acquired a new stake in shares of Planet Fitness during the third quarter worth $5,206,000. Finally, State Street Corp increased its position in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after buying an additional 37,236 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the sale, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.94% of the stock is owned by insiders.

Planet Fitness Price Performance

PLNT opened at $108.16 on Monday. The company’s 50-day moving average is $101.84 and its 200 day moving average is $88.99. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The firm has a market capitalization of $9.15 billion, a P/E ratio of 58.15, a PEG ratio of 2.66 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same period last year, the firm earned $0.59 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLNT. DA Davidson reissued a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Morgan Stanley increased their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Piper Sandler increased their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research note on Wednesday, January 15th. Finally, Macquarie reissued a “neutral” rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

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.