Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Cadian Capital Management LP

Cadian Capital Management LP lowered its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 56.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 641,976 shares of the company's stock after selling 826,587 shares during the quarter. Planet Fitness accounts for about 3.7% of Cadian Capital Management LP's portfolio, making the stock its 11th biggest holding. Cadian Capital Management LP owned 0.76% of Planet Fitness worth $63,472,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Planet Fitness in the fourth quarter valued at about $39,000. UMB Bank n.a. boosted its holdings 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 buying an additional 157 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after buying an additional 490 shares in the last quarter. Beaumont Financial Advisors LLC acquired a new position in shares of Planet Fitness during the fourth quarter valued at approximately $202,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Planet Fitness in the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLNT. Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 price target on the stock. BMO Capital Markets upped their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Finally, Macquarie decreased their target price on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Four 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.00.

Planet Fitness Stock Performance

Shares of Planet Fitness stock traded down $3.54 on Friday, reaching $93.54. The company had a trading volume of 2,089,448 shares, compared to its average volume of 1,406,956. The firm's 50 day moving average price is $96.30 and its two-hundred day moving average price is $97.75. Planet Fitness, Inc. has a 52-week low of $60.56 and a 52-week high of $110.00. The firm has a market cap of $7.92 billion, a PE ratio of 50.29, a PEG ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. During the same period in the previous year, the firm earned $0.53 EPS. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 2.51 EPS 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.