Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Legato Capital Management LLC

Legato Capital Management LLC increased its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 40.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,255 shares of the company’s stock after buying an additional 3,215 shares during the period. Legato Capital Management LLC’s holdings in Planet Fitness were worth $1,113,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new stake in shares of Planet Fitness in the second quarter valued at about $207,000. Creative Planning raised its position in shares of Planet Fitness by 2.1% during the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock worth $743,000 after purchasing an additional 192 shares during the last quarter. Walter Public Investments Inc. lifted its stake in Planet Fitness by 3.0% in the 3rd quarter. Walter Public Investments Inc. now owns 162,709 shares of the company’s stock valued at $13,215,000 after buying an additional 4,784 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares during the last quarter. Finally, Accurate Wealth Management LLC grew its holdings in Planet Fitness by 25.5% during the 3rd quarter. Accurate Wealth Management LLC now owns 7,819 shares of the company’s stock valued at $647,000 after buying an additional 1,591 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

NYSE PLNT opened at $101.88 on Thursday. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 54.77, a PEG ratio of 2.68 and a beta of 1.53. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $110.00. The company’s 50 day moving average price is $102.79 and its 200 day moving average price is $90.60.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 price objective on shares of Planet Fitness in a research report on Wednesday, January 15th. DA Davidson restated a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Macquarie reiterated a “neutral” rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Finally, Piper Sandler increased their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $97.69.

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.