Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,021,344 shares of the company’s stock after selling 365,141 shares during the period. Price T Rowe Associates Inc. MD owned 2.39% of Planet Fitness worth $199,851,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Planet Fitness by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company’s stock worth $794,496,000 after buying an additional 39,928 shares during the last quarter. JPMorgan Chase & Co. grew its position in Planet Fitness by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company’s stock worth $356,841,000 after acquiring an additional 36,803 shares during the period. Anomaly Capital Management LP increased its stake 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 acquiring an additional 299,148 shares during the last quarter. Ninety One UK Ltd purchased a new stake in Planet Fitness in the fourth quarter valued at $130,376,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Planet Fitness by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,167,217 shares of the company’s stock valued at $115,407,000 after purchasing an additional 33,230 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PLNT. Canaccord Genuity Group initiated coverage on Planet Fitness in a research report on Thursday, March 13th. They set a “buy” rating and a $120.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Macquarie lowered their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Piper Sandler boosted their target price on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets raised their price target on Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.72.

Planet Fitness Trading Down 0.6 %

PLNT stock opened at $95.77 on Friday. The company’s 50 day moving average is $95.85 and its two-hundred day moving average is $96.59. Planet Fitness, Inc. has a twelve month low of $58.51 and a twelve month high of $110.00. The stock has a market cap of $8.11 billion, a P/E ratio of 51.49, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results 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 firm had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same period last year, the business earned $0.60 EPS. Planet Fitness’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share 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.