Planet Fitness, Inc. (NYSE:PLNT) Position Reduced by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Planet Fitness, Inc. (NYSE:PLNT) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 710,802 shares of the company’s stock after selling 130,470 shares during the quarter. Federated Hermes Inc. owned 0.84% of Planet Fitness worth $70,277,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares during the last quarter. R Squared Ltd acquired a new stake in Planet Fitness in the 4th quarter valued at about $39,000. Skandinaviska Enskilda Banken AB publ boosted its stake 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 in the last quarter. Beaumont Financial Advisors LLC acquired a new stake in Planet Fitness during the 4th quarter worth about $202,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Planet Fitness in the 4th quarter worth approximately $203,000. Institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on PLNT shares. Roth Mkm restated a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Macquarie lowered their target price on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets boosted their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Piper Sandler boosted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Guggenheim reiterated a “buy” rating and set a $105.00 target price on shares of Planet Fitness in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have assigned 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 $101.44.

Planet Fitness Price Performance

PLNT stock opened at $92.68 on Monday. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 49.83, a P/E/G ratio of 2.45 and a beta of 1.39. The business has a fifty day moving average price of $99.51 and a 200 day moving average price of $95.31. Planet Fitness, Inc. has a fifty-two week low of $57.64 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $340.50 million for 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%. Planet Fitness’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.