Barclays PLC Sells 4,833 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Barclays PLC lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 7.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 63,176 shares of the company’s stock after selling 4,833 shares during the period. Barclays PLC’s holdings in Planet Fitness were worth $6,247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Planet Fitness in the 4th quarter worth about $39,000. UMB Bank n.a. lifted its holdings in Planet Fitness by 67.4% in the fourth 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 period. Proficio Capital Partners LLC bought a new stake in Planet Fitness during the 4th quarter valued at approximately $51,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after acquiring an additional 490 shares during the period. Finally, Beaumont Financial Advisors LLC bought a new position in shares of Planet Fitness in the 4th quarter worth approximately $202,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of PLNT opened at $96.28 on Friday. Planet Fitness, Inc. has a one year low of $58.51 and a one year high of $110.00. The business has a fifty day moving average of $95.94 and a 200 day moving average of $96.37. The firm has a market capitalization of $8.15 billion, a P/E ratio of 51.76, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $340.50 million during the quarter, compared to analyst estimates 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 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 earned $0.60 EPS. Analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on PLNT. JPMorgan Chase & Co. upped their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note 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. BMO Capital Markets upped their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Canaccord Genuity Group initiated coverage on shares of Planet Fitness in a report on Thursday, March 13th. They set a “buy” rating and a $120.00 target price for the company. Finally, Piper Sandler upped their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

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.