Federated Hermes Inc. Sells 221,963 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Federated Hermes Inc. reduced its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 974,314 shares of the company's stock after selling 221,963 shares during the quarter. Federated Hermes Inc. owned about 1.11% of Planet Fitness worth $71,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Allworth Financial LP grew its position in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Planet Fitness by 93.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company's stock valued at $35,000 after acquiring an additional 220 shares in the last quarter. Quarry LP purchased a new position in Planet Fitness in the 1st quarter worth approximately $38,000. International Assets Investment Management LLC bought a new position in Planet Fitness in the 3rd quarter valued at approximately $27,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in Planet Fitness during the 4th quarter valued at $47,000. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PLNT. DA Davidson restated a "neutral" rating and issued a $62.00 price target on shares of Planet Fitness in a research note on Monday, February 5th. JPMorgan Chase & Co. dropped their price target on shares of Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a report on Monday, February 26th. Stifel Nicolaus decreased their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a "buy" rating for the company in a report on Friday, February 23rd. Morgan Stanley restated an "overweight" rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Monday, April 1st. Finally, Royal Bank of Canada lifted their target price on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 5th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of "Moderate Buy" and a consensus price target of $71.00.

Planet Fitness Stock Up 0.1 %

NYSE:PLNT traded up $0.03 during mid-day trading on Friday, hitting $58.68. 1,979,649 shares of the company traded hands, compared to its average volume of 1,648,926. The stock's fifty day moving average price is $62.77 and its 200-day moving average price is $64.25. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 1.93 and a beta of 1.39. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $84.48.

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