Royal Bank of Canada Has $14.94 Million Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Royal Bank of Canada trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,096 shares of the company's stock after selling 22,518 shares during the quarter. Royal Bank of Canada owned about 0.18% of Planet Fitness worth $14,938,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV raised its holdings in shares of Planet Fitness by 23.1% in the 4th quarter. KBC Group NV now owns 3,081 shares of the company's stock worth $305,000 after purchasing an additional 578 shares in the last quarter. Moody Aldrich Partners LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $330,000. R Squared Ltd bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $39,000. Greenleaf Trust bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $210,000. Finally, Chicago Capital LLC acquired a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $742,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

PLNT traded up $0.73 on Wednesday, reaching $103.25. 1,221,450 shares of the company traded hands, compared to its average volume of 1,404,603. The company has a market cap of $8.69 billion, a price-to-earnings ratio of 55.51, 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 stock's 50 day moving average price is $97.47 and its 200-day moving average price is $99.30.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Roth Mkm restated 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. BMO Capital Markets boosted 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. Macquarie restated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and a consensus price target 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.