Envestnet Asset Management Inc. Sells 20,911 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Envestnet Asset Management Inc. lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 165,896 shares of the company's stock after selling 20,911 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.20% of Planet Fitness worth $16,402,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PLNT. UMB Bank n.a. grew its holdings in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after purchasing an additional 157 shares in the last quarter. R Squared Ltd acquired a new stake in Planet Fitness during the 4th quarter valued at $39,000. Skandinaviska Enskilda Banken AB publ raised its position in Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the last quarter. Beaumont Financial Advisors LLC bought a new stake in Planet Fitness during the 4th quarter worth about $202,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in Planet Fitness in the 4th quarter worth approximately $203,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price target on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Piper Sandler increased their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Roth Mkm reaffirmed a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group started coverage on Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 price target for the company. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Planet Fitness has a consensus rating of "Moderate Buy" and a consensus target price of $101.72.

Planet Fitness Trading Down 0.6 %

Shares of PLNT stock traded down $0.57 during trading hours on Friday, hitting $93.91. 1,037,277 shares of the company were exchanged, compared to its average volume of 1,434,361. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 50.49, a P/E/G ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 52-week low of $58.23 and a 52-week high of $110.00. The firm has a fifty day simple moving average of $96.46 and a 200 day simple moving average of $96.20.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the firm earned $0.60 EPS. Planet Fitness's revenue for the quarter was up 19.4% on a year-over-year basis. 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.