Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lowered its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 41.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,020 shares of the company’s stock after selling 2,870 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Planet Fitness were worth $293,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PLNT. CWM LLC increased its holdings in shares of Planet Fitness by 109.5% in the 3rd quarter. CWM LLC now owns 1,460 shares of the company’s stock valued at $72,000 after acquiring an additional 763 shares during the last quarter. SG Americas Securities LLC increased its holdings in shares of Planet Fitness by 18.1% in the 3rd quarter. SG Americas Securities LLC now owns 7,741 shares of the company’s stock valued at $381,000 after acquiring an additional 1,186 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Planet Fitness in the 3rd quarter valued at about $314,000. Commonwealth Equity Services LLC increased its holdings in shares of Planet Fitness by 679.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 31,978 shares of the company’s stock valued at $1,573,000 after acquiring an additional 27,877 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Planet Fitness by 7.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 71,355 shares of the company’s stock valued at $3,509,000 after acquiring an additional 4,863 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

PLNT has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Royal Bank of Canada raised their price target on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Morgan Stanley restated an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Monday, April 1st. JPMorgan Chase & Co. dropped their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Finally, DA Davidson restated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research note on Monday, February 5th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $71.00.

Planet Fitness Price Performance

PLNT opened at $60.25 on Friday. The business has a 50 day simple moving average of $62.14 and a 200-day simple moving average of $64.60. The stock has a market capitalization of $5.31 billion, a P/E ratio of 37.19, a P/E/G ratio of 1.99 and a beta of 1.39. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $84.48.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $285.10 million during 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 company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. Research analysts anticipate that Planet Fitness, Inc. will post 2.48 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.