Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Xponance Inc.

Xponance Inc. cut its stake in Planet Fitness, Inc. (NYSE:PLNT) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,238 shares of the company’s stock after selling 210 shares during the quarter. Xponance Inc.’s holdings in Planet Fitness were worth $1,039,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Planet Fitness in the fourth quarter valued at approximately $47,000. Asset Management One Co. Ltd. raised its stake in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after buying an additional 148 shares during the period. CWM LLC lifted its position in shares of 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 buying an additional 763 shares in the last quarter. Finally, Covestor Ltd grew its stake in Planet Fitness by 19.5% in 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 during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $59.88 on Friday. The company has a market capitalization of $5.28 billion, a P/E ratio of 36.96, a P/E/G ratio of 1.99 and a beta of 1.39. The company has a 50 day simple moving average of $62.30 and a 200-day simple moving average of $64.64. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $84.48.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $282.35 million. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, research analysts expect that Planet Fitness, Inc. will post 2.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLNT. Piper Sandler increased their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. cut their price objective on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Morgan Stanley restated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. Stifel Nicolaus dropped their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 23rd. Finally, StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.