Cadian Capital Management LP Has $63.47 Million Position in Planet Fitness, Inc. (NYSE:PLNT)

Cadian Capital Management LP trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 56.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 641,976 shares of the company's stock after selling 826,587 shares during the period. Planet Fitness comprises approximately 3.7% of Cadian Capital Management LP's portfolio, making the stock its 11th biggest holding. Cadian Capital Management LP owned about 0.76% of Planet Fitness worth $63,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Corient Private Wealth LLC boosted its holdings in Planet Fitness by 2.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock worth $457,000 after purchasing an additional 94 shares in the last quarter. Cetera Trust Company N.A boosted its stake in shares of Planet Fitness by 5.2% during the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock worth $268,000 after acquiring an additional 135 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after acquiring an additional 157 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Planet Fitness by 1.3% during the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company's stock valued at $1,249,000 after acquiring an additional 161 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock valued at $207,000 after acquiring an additional 192 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Roth Mkm reiterated a "buy" rating and set a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Macquarie lowered 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. Guggenheim boosted their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. BMO Capital Markets lifted their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, DA Davidson restated a "neutral" rating and set a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $101.72.

Planet Fitness Stock Up 1.9 %

NYSE:PLNT traded up $1.92 on Wednesday, reaching $101.79. The stock had a trading volume of 2,954,512 shares, compared to its average volume of 1,409,992. The company has a market capitalization of $8.62 billion, a P/E ratio of 54.73, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a 1-year low of $59.16 and a 1-year high of $110.00. The stock has a fifty day moving average price of $96.25 and a 200-day moving average price of $97.41.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the business earned $0.60 EPS. Planet Fitness's revenue was up 19.4% compared to the same quarter last year. Sell-side analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal 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.