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.
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
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.
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