Lisanti Capital Growth LLC Buys Shares of 73,145 Planet Fitness, Inc. (NYSE:PLNT)

Lisanti Capital Growth LLC bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 73,145 shares of the company’s stock, valued at approximately $5,340,000. Planet Fitness comprises about 1.3% of Lisanti Capital Growth LLC’s holdings, making the stock its 21st biggest position. Lisanti Capital Growth LLC owned 0.08% of Planet Fitness at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLNT. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Planet Fitness in the 4th quarter worth $231,000. National Bank of Canada FI purchased a new stake in shares of Planet Fitness in the 4th quarter worth approximately $15,103,000. M&T Bank Corp purchased a new position in Planet Fitness during the fourth quarter valued at approximately $306,000. Amalgamated Bank raised its stake in Planet Fitness by 0.3% in the fourth quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after buying an additional 179 shares in the last quarter. Finally, Natixis Advisors L.P. bought a new position in Planet Fitness in the fourth quarter worth approximately $788,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLNT has been the topic of a number of analyst reports. Stifel Nicolaus cut their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada increased their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. cut their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, February 26th. Piper Sandler increased their target price on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.21.

Planet Fitness Price Performance

PLNT traded up $1.10 on Monday, reaching $60.63. 2,074,348 shares of the stock were exchanged, compared to its average volume of 1,663,539. The company’s 50-day moving average price is $61.50 and its 200 day moving average price is $65.13. The firm has a market capitalization of $5.35 billion, a PE ratio of 37.43, a PEG ratio of 1.93 and a beta of 1.37. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $75.86.

Planet Fitness (NYSE:PLNT) last released 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. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The firm had revenue of $285.10 million during the quarter, compared to the consensus estimate of $282.35 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts forecast 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.