Allspring Global Investments Holdings LLC reduced its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 213,277 shares of the company's stock after selling 22,911 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.24% of Planet Fitness worth $15,569,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Cadian Capital Management LP increased its stake in shares of Planet Fitness by 164.7% in the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company's stock worth $198,860,000 after acquiring an additional 2,516,007 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Planet Fitness by 34.8% during 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 grew its holdings in shares of Planet Fitness by 78.4% during 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 purchased a new position in shares of Planet Fitness during the 4th quarter worth $63,014,000. Finally, Pelham Capital Ltd. purchased a new position in shares of Planet Fitness during the 3rd quarter worth $36,172,000. 95.53% of the stock is owned by institutional investors and hedge funds.
Planet Fitness Stock Performance
Shares of PLNT traded down $1.77 during midday trading on Tuesday, hitting $60.79. The company had a trading volume of 2,564,099 shares, compared to its average volume of 1,638,387. The company's 50-day simple moving average is $63.60 and its 200-day simple moving average is $64.17. The firm has a market capitalization of $5.36 billion, a P/E ratio of 37.51, a P/E/G ratio of 1.23 and a beta of 1.39. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $84.48.
Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same quarter last year, the company earned $0.53 EPS. The business's quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts predict that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
PLNT has been the subject of a number of research analyst reports. DA Davidson reiterated a "neutral" rating and set a $62.00 price target on shares of Planet Fitness in a report on Monday, February 5th. Morgan Stanley reiterated an "overweight" rating and set a $79.00 price target on shares of Planet Fitness in a report on Monday, April 1st. StockNews.com upgraded Planet Fitness from a "sell" rating to a "hold" rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their price target on Planet Fitness from $75.00 to $72.00 and set a "neutral" rating for the company in a report on Monday, February 26th. Finally, Stifel Nicolaus lowered their price target on Planet Fitness from $85.00 to $80.00 and set a "buy" rating for the company in a report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $71.00.
Check Out Our Latest Research Report on PLNT
Planet Fitness Company Profile
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Free Report)
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.
Further Reading
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