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Federated Hermes Inc. Has $63.72 Million Stake in Planet Fitness, Inc. (NYSE:PLNT)

Planet Fitness logo with Consumer Discretionary background

Federated Hermes Inc. decreased its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 659,599 shares of the company's stock after selling 51,203 shares during the quarter. Federated Hermes Inc. owned 0.78% of Planet Fitness worth $63,724,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in Planet Fitness by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after buying an additional 2,570,826 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after buying an additional 806,023 shares during the last quarter. Anomaly Capital Management LP boosted its position in shares of Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock worth $175,256,000 after buying an additional 299,148 shares during the period. Dimensional Fund Advisors LP grew its holdings in Planet Fitness by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,167,217 shares of the company's stock worth $115,407,000 after buying an additional 33,230 shares in the last quarter. Finally, Norges Bank acquired a new stake in Planet Fitness in the 4th quarter valued at approximately $100,009,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Macquarie reiterated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research report on Tuesday, May 13th. Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. Morgan Stanley upped their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.63.

Read Our Latest Stock Report on Planet Fitness

Planet Fitness Stock Performance

PLNT traded down $1.66 during trading on Friday, reaching $107.53. 1,159,092 shares of the company's stock were exchanged, compared to its average volume of 1,103,311. The company's fifty day moving average price is $107.30 and its 200-day moving average price is $101.86. The firm has a market capitalization of $9.05 billion, a PE ratio of 50.72, a P/E/G ratio of 2.44 and a beta of 1.40. Planet Fitness, Inc. has a fifty-two week low of $68.75 and a fifty-two week high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The company had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. During the same period last year, the firm earned $0.53 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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