Peregrine Capital Management LLC Sells 18,662 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Peregrine Capital Management LLC decreased its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 481,303 shares of the company's stock after selling 18,662 shares during the quarter. Planet Fitness comprises 1.1% of Peregrine Capital Management LLC's portfolio, making the stock its 20th biggest holding. Peregrine Capital Management LLC owned about 0.55% of Planet Fitness worth $35,135,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cadian Capital Management LP raised its position in Planet Fitness by 164.7% during the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company's stock valued at $198,860,000 after purchasing an additional 2,516,007 shares in the last quarter. BlackRock Inc. raised its holdings in Planet Fitness by 34.8% in the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company's stock worth $606,915,000 after purchasing an additional 1,852,867 shares during the period. State Street Corp raised its holdings in Planet Fitness by 78.4% in the 2nd quarter. State Street Corp now owns 2,295,657 shares of the company's stock worth $154,819,000 after purchasing an additional 1,008,875 shares during the period. Norges Bank acquired a new position in shares of Planet Fitness during the fourth quarter valued at approximately $63,014,000. Finally, Pelham Capital Ltd. acquired a new position in shares of Planet Fitness during the third quarter valued at approximately $36,172,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PLNT. Stifel Nicolaus lowered their price objective on Planet Fitness from $85.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, February 23rd. StockNews.com lowered Planet Fitness from a "hold" rating to a "sell" rating in a research report on Tuesday, April 2nd. Piper Sandler increased their price objective on Planet Fitness from $88.00 to $89.00 and gave the stock an "overweight" rating in a research report on Thursday, January 11th. Royal Bank of Canada increased their price objective on Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. decreased their price target on Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of "Moderate Buy" and an average price target of $71.00.

Planet Fitness Price Performance

Shares of PLNT stock traded up $2.09 during midday trading on Tuesday, reaching $65.16. 1,762,090 shares of the company traded hands, compared to its average volume of 1,629,860. The firm's 50 day simple moving average is $64.07 and its two-hundred day simple moving average is $63.69. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $84.48. The firm has a market cap of $5.75 billion, a PE ratio of 40.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $285.10 million during the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. As a group, research analysts anticipate that Planet Fitness, Inc. will post 2.48 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.