National Bank of Canada FI Purchases Shares of 207,000 Planet Fitness, Inc. (NYSE:PLNT)

National Bank of Canada FI acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, Holdings Channel.com reports. The fund acquired 207,000 shares of the company’s stock, valued at approximately $15,103,000.

A number of other hedge funds have also recently made changes to their positions in the business. M&T Bank Corp acquired a new position in Planet Fitness during the 4th quarter valued at about $306,000. Amalgamated Bank boosted its position in shares of Planet Fitness by 0.3% during the fourth quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock valued at $4,203,000 after buying an additional 179 shares during the last quarter. Natixis Advisors L.P. bought a new stake in Planet Fitness during the fourth quarter worth $788,000. First Horizon Advisors Inc. raised its position in Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after buying an additional 197 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Planet Fitness by 19.4% during the 4th quarter. Victory Capital Management Inc. now owns 17,882 shares of the company’s stock valued at $1,305,000 after acquiring an additional 2,905 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several analyst reports. DA Davidson reiterated a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a report on Monday, February 5th. Stifel Nicolaus reduced their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Royal Bank of Canada increased their target price on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Piper Sandler lifted their price target on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Six 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.21.

Planet Fitness Trading Up 2.3 %

Shares of PLNT opened at $62.02 on Wednesday. The stock has a 50-day moving average price of $61.44 and a 200-day moving average price of $65.24. The company has a market cap of $5.47 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $75.86.

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

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.