Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 707,359 shares of the company’s stock after selling 46,101 shares during the period. Pictet Asset Management Holding SA owned 0.84% of Planet Fitness worth $69,937,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PLNT. Tidal Investments LLC increased its holdings in shares of Planet Fitness by 132.5% during the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after buying an additional 16,503 shares during the last quarter. AMJ Financial Wealth Management purchased a new position in Planet Fitness in the fourth quarter worth approximately $495,000. State Street Corp increased its stake in Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after acquiring an additional 37,236 shares during the last quarter. Nkcfo LLC purchased a new stake in Planet Fitness in the fourth quarter valued at $1,088,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Planet Fitness in the third quarter valued at $604,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLNT has been the topic of several research analyst reports. Piper Sandler boosted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Roth Mkm reissued a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Canaccord Genuity Group began coverage on shares of Planet Fitness in a report on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $100.17.

Planet Fitness Trading Down 3.0 %

Shares of PLNT stock opened at $96.18 on Friday. The company has a market cap of $8.14 billion, a P/E ratio of 51.71, a PEG ratio of 2.45 and a beta of 1.54. The firm has a fifty day moving average price of $100.46 and a 200 day moving average price of $94.73. Planet Fitness, Inc. has a 12 month low of $57.64 and a 12 month high of $110.00.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.