Allspring Global Investments Holdings LLC Decreases Stake in Planet Fitness, Inc. (NYSE:PLNT)

Allspring Global Investments Holdings LLC lowered its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,287 shares of the company’s stock after selling 35,524 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Planet Fitness were worth $14,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. raised its position in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after buying an additional 157 shares during the last quarter. R Squared Ltd purchased a new position in shares of Planet Fitness during the fourth quarter valued at approximately $39,000. V Square Quantitative Management LLC raised its holdings in shares of Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Planet Fitness during the third quarter valued at approximately $200,000. Finally, Beaumont Financial Advisors LLC purchased a new position in shares of Planet Fitness during the fourth quarter valued at approximately $202,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $101.07 on Tuesday. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $110.00. The stock has a fifty day simple moving average of $102.93 and a two-hundred day simple moving average of $91.32. The firm has a market capitalization of $8.55 billion, a PE ratio of 54.34, a PEG ratio of 2.68 and a beta of 1.53.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PLNT shares. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research note on Wednesday, January 15th. DA Davidson reiterated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Robert W. Baird upped their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Raymond James upped their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler upped their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $97.69.

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.