Planet Fitness, Inc. (NYSE:PLNT) Position Lessened by Swiss National Bank

Swiss National Bank trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 166,385 shares of the company’s stock after selling 4,500 shares during the quarter. Swiss National Bank’s holdings in Planet Fitness were worth $16,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. M&T Bank Corp raised its holdings in shares of Planet Fitness by 2.6% during the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after acquiring an additional 124 shares in the last quarter. Cetera Trust Company N.A raised its holdings in Planet Fitness by 5.2% during the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after buying an additional 135 shares in the last quarter. UMB Bank n.a. raised its holdings in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares in the last quarter. Truist Financial Corp raised its holdings in Planet Fitness by 1.3% during the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock valued at $1,249,000 after buying an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Planet Fitness by 10.1% during the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after buying an additional 192 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLNT. Piper Sandler raised their target price on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. DA Davidson restated a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Guggenheim reiterated a “buy” rating and issued a $105.00 price objective on shares of Planet Fitness in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.17.

Planet Fitness Stock Up 0.4 %

PLNT stock opened at $98.74 on Wednesday. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $110.00. The company has a market cap of $8.36 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The business’s 50-day simple moving average is $101.01 and its 200 day simple moving average is $93.75.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts anticipate 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.