Fortis Group Advisors LLC Invests $316,000 in Planet Fitness, Inc. (NYSE:PLNT)

Fortis Group Advisors LLC acquired a new position in Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,198 shares of the company’s stock, valued at approximately $316,000.

A number of other hedge funds have also recently made changes to their positions in PLNT. Ninety One UK Ltd bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $130,376,000. FMR LLC increased its stake in shares of Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after buying an additional 691,761 shares during the period. WCM Investment Management LLC purchased a new position in shares of Planet Fitness in the fourth quarter worth $22,289,000. Artemis Investment Management LLP purchased a new position in shares of Planet Fitness in the fourth quarter worth $18,767,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Planet Fitness in the third quarter worth $13,592,000. 95.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLNT has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research note on Wednesday, January 15th. Macquarie reaffirmed a “neutral” rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Piper Sandler lifted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley lifted their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.69.

Planet Fitness Price Performance

NYSE:PLNT opened at $100.17 on Wednesday. The company has a market capitalization of $8.47 billion, a PE ratio of 53.85, a P/E/G ratio of 2.68 and a beta of 1.53. The firm’s 50-day moving average price is $102.93 and its 200-day moving average price is $91.51. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $110.00.

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.