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

Daiwa Securities Group Inc. lowered its stake in Planet Fitness, Inc. (NYSE:PLNT) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,980 shares of the company’s stock after selling 200 shares during the period. Daiwa Securities Group Inc.’s holdings in Planet Fitness were worth $196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after acquiring an additional 157 shares during the last quarter. R Squared Ltd purchased a new position in shares of Planet Fitness in the 4th quarter valued at about $39,000. Proficio Capital Partners LLC purchased a new position in shares of Planet Fitness in the 4th quarter valued at about $51,000. Point72 Hong Kong Ltd purchased a new position in shares of Planet Fitness in the 3rd quarter valued at about $200,000. Finally, Beaumont Financial Advisors LLC purchased a new position in shares of Planet Fitness in the 4th quarter valued at about $202,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

PLNT opened at $95.56 on Monday. The business has a 50 day simple moving average of $101.07 and a 200-day simple moving average of $93.50. The stock has a market capitalization of $8.09 billion, a P/E ratio of 51.38, a P/E/G ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $110.00.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLNT. DA Davidson reiterated a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Stifel Nicolaus dropped their price target on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Piper Sandler raised their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $100.17.

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.