Bessemer Group Inc. lifted its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 24.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,877 shares of the company’s stock after purchasing an additional 45,623 shares during the quarter. Bessemer Group Inc. owned approximately 0.26% of Planet Fitness worth $14,335,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Planet Fitness in the first quarter worth $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Planet Fitness in the fourth quarter valued at $47,000. Asset Management One Co. Ltd. boosted its position in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after purchasing an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Planet Fitness by 24.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Planet Fitness Trading Down 0.9 %
NYSE:PLNT traded down $0.69 during trading hours on Thursday, hitting $74.71. The stock had a trading volume of 217,233 shares, compared to its average volume of 1,649,338. The business has a 50 day simple moving average of $70.48 and a two-hundred day simple moving average of $66.87. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $79.09. The company has a market cap of $6.59 billion, a PE ratio of 43.32, a price-to-earnings-growth ratio of 2.57 and a beta of 1.49.
Wall Street Analyst Weigh In
A number of research firms recently commented on PLNT. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a report on Friday, June 14th. Raymond James upped their price target on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. Royal Bank of Canada dropped their price objective on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.
Read Our Latest Analysis on Planet Fitness
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.
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