Moody Aldrich Partners LLC Buys New Shares in Planet Fitness, Inc. (NYSE:PLNT)

Moody Aldrich Partners LLC purchased a new position in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,334 shares of the company’s stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLNT. Tidal Investments LLC boosted its position in shares of Planet Fitness by 132.5% in the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after acquiring an additional 16,503 shares during the last quarter. State Street Corp boosted its holdings in shares of Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after purchasing an additional 37,236 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at $604,000. Artemis Investment Management LLP purchased a new stake in shares of Planet Fitness during the 4th quarter valued at $18,767,000. Finally, Quest Partners LLC increased its holdings in shares of Planet Fitness by 126.0% during the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after buying an additional 5,298 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley boosted their price target 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 increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. DA Davidson reaffirmed a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Raymond James increased their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research note on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

Planet Fitness Trading Up 0.8 %

PLNT stock opened at $107.61 on Thursday. The firm has a 50 day simple moving average of $101.52 and a 200-day simple moving average of $88.47. The company has a market capitalization of $9.10 billion, a P/E ratio of 57.86, a PEG ratio of 2.63 and a beta of 1.52. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $108.41.

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

Insider Activity at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is owned by corporate insiders.

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.