Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,980 shares of the company’s stock after selling 200 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Planet Fitness were worth $196,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLNT. Crossmark Global Holdings Inc. raised its holdings in Planet Fitness by 8.8% during the third quarter. Crossmark Global Holdings Inc. now owns 6,256 shares of the company’s stock worth $508,000 after purchasing an additional 508 shares during the last quarter. KBC Group NV increased its position in Planet Fitness by 14.7% during the third quarter. KBC Group NV now owns 2,503 shares of the company’s stock worth $203,000 after buying an additional 321 shares in the last quarter. ING Groep NV purchased a new position in Planet Fitness during the third quarter worth $1,568,000. Natixis Advisors LLC purchased a new position in Planet Fitness during the third quarter worth $855,000. Finally, Quest Partners LLC increased its position in Planet Fitness by 126.0% during the third quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after buying an additional 5,298 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $95.56 on Monday. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $110.00. The business has a 50-day moving average of $101.07 and a 200-day moving average of $93.50. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 51.38, a PEG ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $324.57 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year. Research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research report on Monday, February 24th. Stifel Nicolaus dropped their price target on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Guggenheim reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Planet Fitness in a research report on Thursday, February 27th. Finally, Piper Sandler lifted their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness 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.