Nuveen Asset Management LLC Lowers Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Nuveen Asset Management LLC decreased its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 313,874 shares of the company's stock after selling 37,560 shares during the period. Nuveen Asset Management LLC owned about 0.37% of Planet Fitness worth $31,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PLNT. Renaissance Technologies LLC bought a new stake in Planet Fitness in the fourth quarter valued at $11,963,000. Freestone Grove Partners LP bought a new stake in Planet Fitness in the fourth quarter valued at $25,676,000. Jump Financial LLC bought a new stake in Planet Fitness in the fourth quarter valued at $965,000. B. Metzler seel. Sohn & Co. AG bought a new stake in Planet Fitness in the fourth quarter valued at $3,378,000. Finally, Raymond James Financial Inc. bought a new stake in Planet Fitness in the fourth quarter valued at $2,988,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Price Performance

Shares of PLNT stock traded down $2.82 on Tuesday, hitting $102.58. 1,903,354 shares of the stock traded hands, compared to its average volume of 1,407,222. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 55.15, a PEG ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a 52 week low of $60.56 and a 52 week high of $110.00. The firm has a 50 day simple moving average of $97.41 and a two-hundred day simple moving average of $99.28.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued 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 107.97% and a net margin of 14.23%. The business 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 business earned $0.53 earnings per share. The business's quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on PLNT shares. Royal Bank of Canada restated an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. BMO Capital Markets increased their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. 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 increased 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, 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. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $105.11.

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.