Wells Fargo & Company MN Purchases 96,841 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Wells Fargo & Company MN raised its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 111.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,784 shares of the company’s stock after buying an additional 96,841 shares during the period. Wells Fargo & Company MN owned about 0.22% of Planet Fitness worth $18,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the last quarter. R Squared Ltd acquired a new stake in Planet Fitness in the 4th quarter valued at about $39,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares during the last quarter. Beaumont Financial Advisors LLC acquired a new position in shares of Planet Fitness during the fourth quarter worth approximately $202,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $203,000. Institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PLNT shares. Macquarie dropped their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Roth Mkm reaffirmed a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Finally, Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.44.

Planet Fitness Price Performance

NYSE:PLNT opened at $97.58 on Monday. The business’s 50-day simple moving average is $97.60 and its 200-day simple moving average is $95.73. Planet Fitness, Inc. has a fifty-two week low of $57.64 and a fifty-two week high of $110.00. The stock has a market capitalization of $8.26 billion, a PE ratio of 52.46, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The business’s revenue was up 19.4% on a year-over-year basis. On average, research analysts expect that Planet Fitness, Inc. will post 2.51 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.