Franklin Resources Inc. Sells 82,524 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Franklin Resources Inc. reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 4.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,715,882 shares of the company’s stock after selling 82,524 shares during the period. Franklin Resources Inc.’s holdings in Planet Fitness were worth $169,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PLNT. Tidal Investments LLC grew its stake in Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after acquiring an additional 16,503 shares in the last quarter. AMJ Financial Wealth Management bought a new position in shares of Planet Fitness during the 4th quarter valued at about $495,000. State Street Corp grew its position in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after purchasing an additional 37,236 shares in the last quarter. Nkcfo LLC bought a new stake in shares of Planet Fitness in the fourth quarter worth about $1,088,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Planet Fitness in the third quarter worth about $604,000. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Guggenheim restated a “buy” rating and issued a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Roth Mkm restated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group started coverage on shares of Planet Fitness in a report on Thursday, March 13th. They issued a “buy” rating and a $120.00 price target for the company. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Planet Fitness Stock Down 0.8 %

PLNT stock opened at $95.80 on Wednesday. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 51.50, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a twelve month low of $57.64 and a twelve month high of $110.00. The business’s fifty day simple moving average is $100.06 and its two-hundred day simple moving average is $95.02.

Planet Fitness (NYSE:PLNT) last announced 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 company 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%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.