Avory & Company LLC Has $2.91 Million Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Avory & Company LLC increased its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,832 shares of the company’s stock after buying an additional 4,076 shares during the quarter. Planet Fitness accounts for about 2.0% of Avory & Company LLC’s investment portfolio, making the stock its 10th largest position. Avory & Company LLC’s holdings in Planet Fitness were worth $2,908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its holdings in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Planet Fitness by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after acquiring an additional 190 shares in the last quarter. Covestor Ltd boosted its stake in shares of Planet Fitness by 19.5% in the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after buying an additional 238 shares during the period. Allworth Financial LP lifted its stake in Planet Fitness by 247.6% during the fourth 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. Finally, Arizona State Retirement System increased its position in Planet Fitness by 1.1% during the third quarter. Arizona State Retirement System now owns 24,190 shares of the company’s stock worth $1,190,000 after buying an additional 259 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLNT. Morgan Stanley restated an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Monday, April 1st. Royal Bank of Canada boosted their target price on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Piper Sandler upped their price target on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. cut their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Finally, DA Davidson restated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research report on Monday, February 5th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.00.

Planet Fitness Stock Up 0.1 %

PLNT traded up $0.08 on Tuesday, hitting $60.15. The company’s stock had a trading volume of 893,482 shares, compared to its average volume of 1,656,003. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $84.48. The firm has a market cap of $5.30 billion, a P/E ratio of 36.75, a price-to-earnings-growth ratio of 1.96 and a beta of 1.39. The company’s 50 day simple moving average is $61.89 and its 200-day simple moving average is $64.95.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. Equities analysts predict that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal 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.