Handelsbanken Fonder AB Sells 200 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Handelsbanken Fonder AB lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 21,881 shares of the company’s stock after selling 200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Planet Fitness were worth $2,163,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. UMB Bank n.a. boosted its holdings in Planet Fitness by 67.4% during 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 bought a new position in shares of Planet Fitness during the fourth quarter valued at about $39,000. Point72 Hong Kong Ltd purchased a new position in Planet Fitness during the third quarter worth about $200,000. Beaumont Financial Advisors LLC purchased a new position in Planet Fitness during the fourth quarter worth about $202,000. Finally, KBC Group NV grew its position in Planet Fitness by 14.7% in the 3rd quarter. KBC Group NV now owns 2,503 shares of the company’s stock worth $203,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

PLNT has been the topic of several recent analyst reports. DA Davidson reissued a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Robert W. Baird lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Piper Sandler boosted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley raised their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Stifel Nicolaus boosted their price target on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

Planet Fitness Stock Down 9.7 %

NYSE PLNT opened at $89.66 on Wednesday. The firm has a market cap of $7.58 billion, a P/E ratio of 48.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. The company’s 50 day moving average is $102.57 and its 200-day moving average is $92.25. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $110.00.

Planet Fitness (NYSE:PLNT) last released 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 during the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. Equities analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

About Planet Fitness

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.