Symmetry Investments LP Trims Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Symmetry Investments LP reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 15.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 39,119 shares of the company’s stock after selling 7,281 shares during the period. Symmetry Investments LP’s holdings in Planet Fitness were worth $3,868,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Planet Fitness by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company’s stock valued at $794,496,000 after buying an additional 39,928 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock worth $782,169,000 after purchasing an additional 2,570,826 shares during the period. JPMorgan Chase & Co. raised its holdings in Planet Fitness by 1.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company’s stock worth $356,841,000 after purchasing an additional 36,803 shares during the period. Anomaly Capital Management LP boosted its position in Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company’s stock worth $175,256,000 after purchasing an additional 299,148 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new stake in Planet Fitness in the fourth quarter valued at approximately $130,376,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLNT. Guggenheim increased their target price on Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, April 14th. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price on the stock. DA Davidson restated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Finally, Piper Sandler increased their target price on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Planet Fitness Stock Up 2.6 %

NYSE:PLNT opened at $95.49 on Wednesday. The company has a market capitalization of $8.09 billion, a P/E ratio of 51.34, a P/E/G ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 52 week low of $58.51 and a 52 week high of $110.00. The stock’s fifty day moving average is $96.11 and its two-hundred day moving average is $96.26.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

About Planet Fitness

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.