Beaumont Financial Advisors LLC Makes New $202,000 Investment in Planet Fitness, Inc. (NYSE:PLNT)

Beaumont Financial Advisors LLC acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,040 shares of the company’s stock, valued at approximately $202,000.

Several other large investors also recently bought and sold shares of the business. M&T Bank Corp increased its holdings in shares of Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after buying an additional 124 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in shares of Planet Fitness by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock valued at $247,000 after acquiring an additional 132 shares during the period. UMB Bank n.a. lifted its holdings in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after acquiring an additional 157 shares during the last quarter. Creative Planning boosted its stake in shares of Planet Fitness by 2.1% during the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock worth $743,000 after purchasing an additional 192 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Planet Fitness by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after purchasing an additional 192 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PLNT shares. Piper Sandler raised their price objective 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. DA Davidson restated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a report on Tuesday. Morgan Stanley upped their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Robert W. Baird boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.69.

Insiders Place Their Bets

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.94% of the stock is owned by insiders.

Planet Fitness Price Performance

Shares of PLNT stock opened at $105.53 on Friday. The company has a market cap of $8.93 billion, a P/E ratio of 56.74, a PEG ratio of 2.67 and a beta of 1.52. The stock’s 50-day moving average is $100.84 and its 200 day moving average is $87.46. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $108.41.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. On average, analysts anticipate that Planet Fitness, Inc. will post 2.5 EPS 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.