Pelham Capital Ltd. Takes $12.84 Million Position in Planet Fitness, Inc. $PLNT

Pelham Capital Ltd. bought a new position in Planet Fitness, Inc. (NYSE:PLNT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 123,706 shares of the company’s stock, valued at approximately $12,841,000. Planet Fitness comprises approximately 6.4% of Pelham Capital Ltd.’s holdings, making the stock its 10th biggest holding. Pelham Capital Ltd. owned 0.15% of Planet Fitness as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Hantz Financial Services Inc. boosted its stake in shares of Planet Fitness by 964.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after purchasing an additional 241 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after buying an additional 214 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of Planet Fitness by 6,950.0% in the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after buying an additional 417 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Planet Fitness in the 3rd quarter valued at about $44,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Planet Fitness by 131.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 445 shares of the company’s stock valued at $47,000 after acquiring an additional 253 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

NYSE PLNT opened at $90.68 on Friday. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 1.38 and a beta of 1.26. The business’s fifty day moving average price is $101.41 and its 200-day moving average price is $102.25. Planet Fitness, Inc. has a 1-year low of $87.44 and a 1-year high of $114.47.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLNT shares. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a $135.00 price target on shares of Planet Fitness in a report on Tuesday, December 9th. William Blair reiterated an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. Finally, UBS Group reiterated a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $122.27.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.