Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in Planet Fitness, Inc. (NYSE:PLNT) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,010 shares of the company’s stock after selling 916 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Planet Fitness were worth $495,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Planet Fitness by 1.5% in the 3rd 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 during the last quarter. Ninety One UK Ltd acquired a new position in Planet Fitness in the fourth quarter valued at $130,376,000. FMR LLC grew its position in Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after acquiring an additional 691,761 shares during the period. WCM Investment Management LLC acquired a new stake in Planet Fitness during the fourth quarter worth about $22,289,000. Finally, Artemis Investment Management LLP purchased a new position in shares of Planet Fitness in the 4th quarter worth about $18,767,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLNT has been the subject of a number of research reports. Canaccord Genuity Group began coverage on Planet Fitness in a report on Thursday, March 13th. They set a “buy” rating and a $120.00 target price for the company. Roth Mkm reissued a “buy” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Piper Sandler lifted 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. Stifel Nicolaus decreased their price target on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Finally, Macquarie reduced their price objective on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.17.

Planet Fitness Stock Performance

PLNT opened at $99.83 on Wednesday. The company has a market capitalization of $8.45 billion, a P/E ratio of 53.67, a PEG ratio of 2.45 and a beta of 1.54. The company has a 50-day moving average of $100.89 and a 200-day moving average of $94.45. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $340.50 million for 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%. Planet Fitness’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal 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.