Sei Investments Co. Trims Position in Planet Fitness, Inc. (NYSE:PLNT)

Sei Investments Co. decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,265 shares of the company’s stock after selling 19,394 shares during the period. Sei Investments Co. owned approximately 0.13% of Planet Fitness worth $10,902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLNT. State Street Corp lifted its position in Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after acquiring an additional 37,236 shares during the period. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness during the fourth quarter worth approximately $130,376,000. FMR LLC lifted its holdings in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after purchasing an additional 691,761 shares during the period. American Century Companies Inc. grew its position in Planet Fitness by 36.4% in the 4th quarter. American Century Companies Inc. now owns 546,664 shares of the company’s stock valued at $54,049,000 after buying an additional 145,799 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new position in Planet Fitness in the 4th quarter valued at $22,289,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating and issued a $105.00 target price on shares of Planet Fitness in a report on Thursday, February 27th. Canaccord Genuity Group started coverage on Planet Fitness in a research note on Thursday, March 13th. They set a “buy” rating and a $120.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. DA Davidson reissued a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Finally, Stifel Nicolaus decreased their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Five 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.17.

Planet Fitness Stock Performance

Planet Fitness stock opened at $96.18 on Friday. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The firm has a 50 day moving average price of $100.46 and a 200 day moving average price of $94.73. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 2.45 and a beta of 1.54.

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 company had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 EPS. Sell-side analysts predict 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.