Planet Fitness, Inc. (NYSE:PLNT) Position Trimmed by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,439,703 shares of the company’s stock after selling 15,781 shares during the quarter. Geode Capital Management LLC’s holdings in Planet Fitness were worth $142,388,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PLNT. UMB Bank n.a. grew its holdings in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after acquiring an additional 157 shares during the last quarter. R Squared Ltd purchased a new position in Planet Fitness in the 4th quarter worth about $39,000. Skandinaviska Enskilda Banken AB publ raised its holdings in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after buying an additional 490 shares during the period. Beaumont Financial Advisors LLC purchased a new stake in Planet Fitness during the fourth quarter valued at about $202,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Planet Fitness in the fourth quarter worth about $203,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $92.23 on Tuesday. Planet Fitness, Inc. has a one year low of $57.64 and a one year high of $110.00. The company’s fifty day moving average price is $99.28 and its two-hundred day moving average price is $95.37. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. As a group, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. 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 report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. Piper Sandler upped their price target on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. DA Davidson reissued a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Macquarie lowered their target price on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.44.

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.