2,040 Shares in Planet Fitness, Inc. (NYSE:PLNT) Purchased by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,040 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in Planet Fitness by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company’s stock valued at $80,910,000 after acquiring an additional 173,536 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Planet Fitness by 16.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,779 shares of the company’s stock valued at $498,000 after purchasing an additional 947 shares during the period. Pacer Advisors Inc. increased its stake in shares of Planet Fitness by 3.3% during the second quarter. Pacer Advisors Inc. now owns 13,146 shares of the company’s stock worth $967,000 after purchasing an additional 423 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Planet Fitness during the 2nd quarter worth about $200,000. Finally, Armistice Capital LLC lifted its stake in Planet Fitness by 34.1% in the 2nd quarter. Armistice Capital LLC now owns 314,214 shares of the company’s stock valued at $23,123,000 after buying an additional 79,943 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.94% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several research reports. Piper Sandler boosted their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Macquarie restated a “neutral” rating and set a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Raymond James increased their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a report on Wednesday, January 15th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Trading Down 0.9 %

Shares of PLNT opened at $105.53 on Friday. The company’s 50-day moving average price is $100.84 and its 200 day moving average price is $87.46. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $108.41. The firm has a market cap of $8.93 billion, a P/E ratio of 56.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Equities research analysts forecast that Planet Fitness, Inc. will post 2.5 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.