Legato Capital Management LLC Increases Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Legato Capital Management LLC raised its stake in Planet Fitness, Inc. (NYSE:PLNT) by 40.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,255 shares of the company’s stock after acquiring an additional 3,215 shares during the period. Legato Capital Management LLC’s holdings in Planet Fitness were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares during the last quarter. R Squared Ltd purchased a new stake in Planet Fitness in the fourth quarter valued at approximately $39,000. V Square Quantitative Management LLC lifted its stake in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Planet Fitness in the third quarter valued at approximately $200,000. Finally, Beaumont Financial Advisors LLC purchased a new position in shares of Planet Fitness during the fourth quarter worth approximately $202,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 1.6 %

Shares of NYSE PLNT opened at $101.88 on Thursday. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 54.77, a price-to-earnings-growth ratio of 2.68 and a beta of 1.53. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $110.00. The firm has a 50-day moving average price of $102.79 and a 200 day moving average price of $90.60.

Analyst Ratings Changes

Several analysts recently commented on the stock. Macquarie reiterated a “neutral” rating and issued a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a report on Wednesday, January 15th. Raymond James raised their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Stifel Nicolaus upped their price objective on Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Morgan Stanley lifted their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

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.