Handelsbanken Fonder AB Sells 200 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Handelsbanken Fonder AB trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,881 shares of the company’s stock after selling 200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Planet Fitness were worth $2,163,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC bought a new position in Planet Fitness in the fourth quarter valued at about $316,000. Truist Financial Corp boosted its stake in shares of Planet Fitness by 1.3% in the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock valued at $1,249,000 after purchasing an additional 161 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Planet Fitness during the 4th quarter valued at approximately $255,000. Nkcfo LLC acquired a new position in Planet Fitness during the 4th quarter worth approximately $1,088,000. Finally, Values First Advisors Inc. acquired a new position in Planet Fitness during the 4th quarter worth approximately $227,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PLNT shares. Morgan Stanley boosted their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Piper Sandler upped their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research report on Monday. Raymond James boosted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Finally, DA Davidson reiterated a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Stock Down 9.7 %

PLNT opened at $89.66 on Wednesday. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $110.00. The company has a fifty day moving average of $102.57 and a 200-day moving average of $92.25. The stock has a market cap of $7.58 billion, a PE ratio of 48.20, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last issued 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 firm had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the business posted $0.60 EPS. The business’s revenue was up 19.4% compared to the same quarter last year. Sell-side analysts anticipate 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.