Amalgamated Bank Has $4.45 Million Stock Position in Planet Fitness, Inc. $PLNT

Amalgamated Bank raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,776 shares of the company’s stock after purchasing an additional 1,442 shares during the quarter. Amalgamated Bank’s holdings in Planet Fitness were worth $4,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PLNT. Wealth Enhancement Advisory Services LLC boosted its holdings in Planet Fitness by 15.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,095 shares of the company’s stock valued at $299,000 after purchasing an additional 418 shares in the last quarter. KBC Group NV boosted its holdings in Planet Fitness by 13.7% during the first quarter. KBC Group NV now owns 3,503 shares of the company’s stock valued at $338,000 after purchasing an additional 422 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Planet Fitness by 70.6% during the first quarter. New York State Teachers Retirement System now owns 33,600 shares of the company’s stock valued at $3,246,000 after purchasing an additional 13,900 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in Planet Fitness by 187.6% during the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock valued at $36,000 after purchasing an additional 242 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its holdings in Planet Fitness by 5.8% during the first quarter. Teacher Retirement System of Texas now owns 35,213 shares of the company’s stock valued at $3,402,000 after purchasing an additional 1,931 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PLNT shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $126.00 price objective on shares of Planet Fitness in a report on Monday, September 15th. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. Morgan Stanley boosted their target price on Planet Fitness from $112.00 to $119.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Planet Fitness in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $113.00.

Planet Fitness Price Performance

PLNT stock opened at $90.63 on Monday. The company has a 50 day moving average price of $99.53 and a 200 day moving average price of $102.74. Planet Fitness, Inc. has a fifty-two week low of $77.79 and a fifty-two week high of $114.47. The stock has a market capitalization of $7.63 billion, a PE ratio of 40.28, a price-to-earnings-growth ratio of 2.09 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. The company had revenue of $340.88 million during the quarter, compared to analysts’ expectations of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness Company 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.