Planet Fitness, Inc. (NYSE:PLNT) Stock Position Lowered by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its stake in Planet Fitness, Inc. (NYSE:PLNT) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 927,839 shares of the company’s stock after selling 6,988 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Planet Fitness were worth $91,735,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PLNT. Ninety One UK Ltd acquired a new position in shares of Planet Fitness in the 4th quarter worth $130,376,000. FMR LLC grew its holdings in shares of Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after acquiring an additional 691,761 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Planet Fitness in the 4th quarter worth $22,289,000. Artemis Investment Management LLP acquired a new position in shares of Planet Fitness in the 4th quarter worth $18,767,000. Finally, Lisanti Capital Growth LLC acquired a new position in shares of Planet Fitness in the 3rd quarter worth $5,206,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on PLNT. Royal Bank of Canada restated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Stifel Nicolaus lowered their price target on Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Piper Sandler lifted their price target on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. 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 report on Friday, January 17th. Finally, DA Davidson reiterated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $97.41 on Monday. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The business has a 50-day moving average of $101.63 and a two-hundred day moving average of $93.06. The stock has a market capitalization of $8.24 billion, a P/E ratio of 52.37, a P/E/G ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last announced its quarterly 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 company had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal 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.