Thrivent Financial for Lutherans Purchases 6,894 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Thrivent Financial for Lutherans grew its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 34.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 26,764 shares of the company’s stock after acquiring an additional 6,894 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Planet Fitness were worth $2,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLNT. Twin Tree Management LP raised its stake in Planet Fitness by 413.5% during the fourth quarter. Twin Tree Management LP now owns 43,264 shares of the company’s stock valued at $4,278,000 after purchasing an additional 57,064 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock worth $457,000 after buying an additional 94 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Planet Fitness by 37.1% during the 4th quarter. Natixis Advisors LLC now owns 14,438 shares of the company’s stock valued at $1,427,000 after buying an additional 3,909 shares in the last quarter. Monimus Capital Management LP bought a new position in shares of Planet Fitness in the 4th quarter valued at about $6,698,000. Finally, Hilton Capital Management LLC grew its position in Planet Fitness by 4.9% in the fourth quarter. Hilton Capital Management LLC now owns 21,798 shares of the company’s stock worth $2,155,000 after acquiring an additional 1,015 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PLNT shares. Canaccord Genuity Group assumed coverage on Planet Fitness in a research report on Thursday, March 13th. They set a “buy” rating and a $120.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. DA Davidson reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Piper Sandler boosted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Stifel Nicolaus lowered their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Stock Down 1.4 %

PLNT opened at $99.21 on Friday. The stock’s fifty day moving average is $100.63 and its two-hundred day moving average is $94.53. The company has a market capitalization of $8.40 billion, a P/E ratio of 53.34, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 52 week low of $57.64 and a 52 week high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter last year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. Equities analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

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.