Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,751 shares of the company’s stock after selling 207 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Planet Fitness were worth $785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLNT. Allworth Financial LP raised its stake in Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness during the 4th quarter valued at $47,000. CWM LLC raised its stake in Planet Fitness by 109.5% during 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 in the last quarter. Covestor Ltd raised its stake in Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after acquiring an additional 238 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Trading Up 1.0 %

Shares of PLNT stock opened at $61.07 on Thursday. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $84.48. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 37.70, a P/E/G ratio of 1.93 and a beta of 1.39. The stock’s fifty day simple moving average is $62.43 and its 200-day simple moving average is $64.66.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. Planet Fitness’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.48 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on PLNT. JPMorgan Chase & Co. cut their target price 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. Morgan Stanley reissued an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a research note on Monday, April 1st. DA Davidson reissued a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a research note on Monday, February 5th. Stifel Nicolaus dropped their price objective on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Finally, Royal Bank of Canada boosted their price objective on Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $71.00.

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.