E. Ohman J or Asset Management AB Sells 10,362 Shares of Planet Fitness, Inc. (NYSE:PLNT)

E. Ohman J or Asset Management AB lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 33.4% during the fourth quarter, HoldingsChannel reports. The fund owned 20,651 shares of the company’s stock after selling 10,362 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Planet Fitness were worth $2,042,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after purchasing an additional 37,236 shares in the last quarter. FMR LLC boosted its position in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after buying an additional 691,761 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Planet Fitness during the fourth quarter worth $18,767,000. Nordea Investment Management AB grew its holdings in Planet Fitness by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company’s stock worth $18,205,000 after buying an additional 8,600 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Planet Fitness in the 3rd quarter valued at $13,592,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

PLNT stock opened at $107.24 on Wednesday. The stock has a fifty day moving average of $102.09 and a 200-day moving average of $89.43. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 57.66, a PEG ratio of 2.67 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same quarter last year, the business earned $0.59 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Analysts Set New Price Targets

PLNT has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Raymond James upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Morgan Stanley lifted their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a report on Wednesday, January 15th. 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 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, the stock has an average rating of “Moderate Buy” and an average price target of $97.69.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.83% of the stock is owned by insiders.

Planet Fitness Company 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.