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

Royal Bank of Canada reduced its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 13.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 151,096 shares of the company's stock after selling 22,518 shares during the period. Royal Bank of Canada owned approximately 0.18% of Planet Fitness worth $14,938,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on PLNT shares. Macquarie reissued a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. Roth Mkm reissued a "buy" rating and set a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Canaccord Genuity Group initiated coverage on Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Finally, Morgan Stanley increased their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Three 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $105.11.

Planet Fitness Price Performance

Shares of NYSE:PLNT traded down $0.21 during midday trading on Friday, reaching $102.82. The company's stock had a trading volume of 1,370,041 shares, compared to its average volume of 1,401,397. The company has a market capitalization of $8.66 billion, a P/E ratio of 55.28, a P/E/G ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a fifty-two week low of $62.42 and a fifty-two week high of $110.00. The business's fifty day simple moving average is $97.55 and its 200-day simple moving average is $99.43.

Planet Fitness (NYSE:PLNT - Get Free Report) last released 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). 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 analyst estimates of $279.80 million. During the same period last year, the business posted $0.53 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness Company 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.