Nkcfo LLC Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Nkcfo LLC purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,000 shares of the company’s stock, valued at approximately $1,088,000.

A number of other institutional investors have also made changes to their positions in PLNT. State Street Corp raised its stake in Planet Fitness by 1.5% during 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. Ninety One UK Ltd bought a new position in shares of Planet Fitness during the 4th quarter worth about $130,376,000. FMR LLC raised its position in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after buying an additional 691,761 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Planet Fitness during the fourth quarter valued at about $22,289,000. Finally, Artemis Investment Management LLP acquired a new stake in Planet Fitness during the fourth quarter worth about $18,767,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Trading Down 2.7 %

Shares of Planet Fitness stock opened at $101.07 on Friday. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $110.00. The firm’s 50-day moving average price is $102.88 and its two-hundred day moving average price is $91.00. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 54.34, a P/E/G ratio of 2.68 and a beta of 1.53.

Wall Street Analyst Weigh In

Several equities analysts have commented on PLNT shares. Raymond James upped their price target on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Robert W. Baird upped their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. DA Davidson reiterated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Piper Sandler increased their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Stifel Nicolaus lifted their target price on shares of Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $97.69.

Planet Fitness 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.