Bessemer Group Inc. Purchases 8,182 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Bessemer Group Inc. grew its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,730 shares of the company’s stock after purchasing an additional 8,182 shares during the period. Bessemer Group Inc. owned approximately 0.42% of Planet Fitness worth $34,776,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after acquiring an additional 157 shares during the last quarter. R Squared Ltd purchased a new position in shares of Planet Fitness during the fourth quarter worth about $39,000. Proficio Capital Partners LLC bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $51,000. Skandinaviska Enskilda Banken AB publ raised its stake in Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. Finally, Beaumont Financial Advisors LLC bought a new stake in Planet Fitness during the fourth quarter valued at approximately $202,000. Institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective 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. Piper Sandler increased their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Macquarie cut their target price on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Roth Mkm reissued a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upped their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $94.58 on Thursday. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The stock’s fifty day moving average price is $98.06 and its 200-day moving average price is $95.46. The company has a market cap of $8.01 billion, a P/E ratio of 50.85, a PEG ratio of 2.45 and a beta of 1.39.

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