Hsbc Holdings PLC Takes Position in Planet Fitness, Inc. (NYSE:PLNT)

Hsbc Holdings PLC acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,931 shares of the company's stock, valued at approximately $290,000.

Several other institutional investors have also added to or reduced their stakes in the business. Corient Private Wealth LLC increased its stake in shares of 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 grew its stake in Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock valued at $268,000 after buying an additional 135 shares in the last quarter. UMB Bank n.a. grew its stake in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after buying an additional 157 shares in the last quarter. Truist Financial Corp raised its holdings in 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 period. Finally, Kestra Private Wealth Services LLC lifted its position in shares of Planet Fitness by 5.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,442 shares of the company's stock worth $439,000 after acquiring an additional 214 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLNT shares. Stifel Nicolaus decreased their price objective on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. DA Davidson reissued a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Morgan Stanley increased their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Guggenheim boosted their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Planet Fitness presently has a consensus rating of "Moderate Buy" and an average price target of $103.00.

Planet Fitness Stock Down 3.6 %

Shares of NYSE:PLNT opened at $93.54 on Friday. The company's fifty day moving average is $96.30 and its 200 day moving average is $97.62. Planet Fitness, Inc. has a 52 week low of $60.56 and a 52 week high of $110.00. The stock has a market cap of $7.92 billion, a PE ratio of 50.29, a PEG ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share 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 company had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company's revenue was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.

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