ExodusPoint Capital Management LP Buys 30,091 Shares of Planet Fitness, Inc. (NYSE:PLNT)

ExodusPoint Capital Management LP boosted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 211.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,330 shares of the company’s stock after acquiring an additional 30,091 shares during the quarter. ExodusPoint Capital Management LP owned 0.05% of Planet Fitness worth $4,383,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLNT. Corient Private Wealth LLC boosted its position in shares of Planet Fitness by 2.1% during the fourth 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 period. M&T Bank Corp boosted its position in Planet Fitness by 2.6% during the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after acquiring an additional 124 shares during the last quarter. Cetera Trust Company N.A grew its stake in shares of Planet Fitness by 5.2% during the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock worth $268,000 after acquiring an additional 135 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Planet Fitness by 67.4% in the fourth 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. Finally, Truist Financial Corp lifted its position in shares of Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after purchasing an additional 161 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Down 4.9 %

Planet Fitness stock opened at $92.68 on Monday. The company’s 50-day moving average price is $99.51 and its two-hundred day moving average price is $95.31. The stock has a market cap of $7.85 billion, a P/E ratio of 49.83, a P/E/G ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a twelve month low of $57.64 and a twelve month high of $110.00.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Guggenheim reaffirmed a “buy” rating and issued a $105.00 target price on shares of Planet Fitness in a research report on Thursday, February 27th. BMO Capital Markets upped their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. JPMorgan Chase & Co. raised their price target on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, DA Davidson reiterated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $101.44.

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.