Concurrent Investment Advisors LLC Acquires Shares of 2,299 Planet Fitness, Inc. (NYSE:PLNT)

Concurrent Investment Advisors LLC bought a new position in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,299 shares of the company’s stock, valued at approximately $227,000.

A number of other institutional investors have also modified their holdings of PLNT. UMB Bank n.a. boosted 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 purchasing an additional 157 shares during the period. R Squared Ltd bought a new stake in Planet Fitness during the 4th quarter valued at $39,000. Beaumont Financial Advisors LLC purchased a new stake in shares of Planet Fitness in the 4th quarter worth $202,000. GAMMA Investing LLC grew its position in shares of Planet Fitness by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock worth $207,000 after buying an additional 192 shares in the last quarter. Finally, Greenleaf Trust purchased a new position in shares of Planet Fitness during the fourth quarter valued at $210,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

PLNT stock opened at $89.66 on Wednesday. The company has a market capitalization of $7.58 billion, a P/E ratio of 48.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $110.00. The firm’s fifty day simple moving average is $102.57 and its 200-day simple moving average is $92.25.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PLNT. Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Raymond James upped their price target 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. DA Davidson reissued a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Macquarie reissued a “neutral” rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their target price on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Company Profile

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.