Planet Fitness, Inc. (NYSE:PLNT) Shares Acquired by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 136.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 467,824 shares of the company’s stock after buying an additional 270,077 shares during the quarter. Planet Fitness makes up about 0.5% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 22nd largest position. Waratah Capital Advisors Ltd. owned about 0.51% of Planet Fitness worth $39,522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PLNT. O Dell Group LLC purchased a new stake in Planet Fitness during the 1st quarter worth about $30,000. Lazard Asset Management LLC purchased a new stake in Planet Fitness in the 4th quarter valued at about $33,000. CWM LLC purchased a new stake in Planet Fitness in the 4th quarter valued at about $56,000. Sandy Spring Bank purchased a new stake in Planet Fitness in the 1st quarter valued at about $84,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Planet Fitness by 19.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,444 shares of the company’s stock valued at $130,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 93.87% of the company’s stock.

Planet Fitness Trading Down 0.0 %

PLNT stock traded down $0.04 during mid-day trading on Friday, hitting $80.25. The stock had a trading volume of 586,791 shares, compared to its average volume of 650,171. Planet Fitness, Inc. has a 1-year low of $61.11 and a 1-year high of $99.60. The company has a fifty day moving average of $72.20 and a 200 day moving average of $78.76. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 125.39, a PEG ratio of 1.48 and a beta of 1.17.

Planet Fitness (NYSE:PLNT – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The company had revenue of $186.70 million for the quarter, compared to analyst estimates of $190.44 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 66.8% compared to the same quarter last year. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 1.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PLNT shares. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a report on Wednesday, May 11th. Robert W. Baird reduced their price target on Planet Fitness from $108.00 to $92.00 in a research report on Wednesday, May 11th. DA Davidson cut their target price on Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. Exane BNP Paribas raised Planet Fitness from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 7th. Finally, Piper Sandler lowered their price target on Planet Fitness from $87.00 to $72.00 in a report on Wednesday, May 11th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

About Planet Fitness

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Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.