National Bank of Canada FI Acquires New Shares in Planet Fitness, Inc. (NYSE:PLNT)

National Bank of Canada FI acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 207,000 shares of the company’s stock, valued at approximately $15,103,000. National Bank of Canada FI owned about 0.23% of Planet Fitness at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of Planet Fitness by 66.8% in the 3rd quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock worth $43,166,000 after acquiring an additional 351,401 shares during the period. Oak Thistle LLC bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $389,000. Graham Capital Management L.P. bought a new stake in shares of Planet Fitness during the third quarter valued at approximately $944,000. Pacer Advisors Inc. boosted its position in shares of Planet Fitness by 80.4% during the fourth quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock worth $937,000 after buying an additional 5,719 shares during the period. Finally, Diversified Trust Co grew its holdings in Planet Fitness by 3.4% in the 4th quarter. Diversified Trust Co now owns 20,256 shares of the company’s stock worth $1,479,000 after buying an additional 659 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Up 2.3 %

NYSE:PLNT opened at $62.02 on Wednesday. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $75.86. The stock has a fifty day simple moving average of $61.44 and a 200 day simple moving average of $65.24. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The firm had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $282.35 million. During the same period in the previous year, the company posted $0.53 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Planet Fitness, Inc. will post 2.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLNT. JPMorgan Chase & Co. lowered their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Piper Sandler boosted their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Stifel Nicolaus cut their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.21.

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.