Allspring Global Investments Holdings LLC reduced its position in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 14.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 651,407 shares of the company’s stock after selling 110,117 shares during the period. Allspring Global Investments Holdings LLC owned 0.73% of Planet Fitness worth $51,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in Planet Fitness by 13.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after purchasing an additional 157 shares during the last quarter. Truist Financial Corp increased its position in Planet Fitness by 0.6% during the 3rd quarter. Truist Financial Corp now owns 38,704 shares of the company’s stock valued at $2,231,000 after buying an additional 215 shares in the last quarter. Royal Bank of Canada raised its stake in Planet Fitness by 1.1% in the third quarter. Royal Bank of Canada now owns 19,590 shares of the company’s stock valued at $1,129,000 after buying an additional 216 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Planet Fitness by 23.0% in the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after acquiring an additional 219 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Planet Fitness by 1.7% during the third quarter. Amalgamated Bank now owns 18,200 shares of the company’s stock worth $1,049,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 94.56% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PLNT. StockNews.com started coverage on shares of Planet Fitness in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Piper Sandler boosted their price objective on shares of Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, December 22nd. Cowen raised their target price on Planet Fitness from $90.00 to $92.00 and gave the stock an “outperform” rating in a research note on Monday, February 27th. DA Davidson reiterated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research note on Friday, February 24th. Finally, Raymond James increased their price objective on Planet Fitness from $92.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 24th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Planet Fitness Stock Up 1.3 %

Planet Fitness stock opened at $77.67 on Friday. The business’s 50-day moving average price is $79.46 and its 200 day moving average price is $73.67. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 66.38, a price-to-earnings-growth ratio of 1.43 and a beta of 1.30. Planet Fitness, Inc. has a 52 week low of $54.15 and a 52 week high of $88.31.

Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Planet Fitness had a net margin of 10.61% and a negative return on equity of 65.39%. The business had revenue of $281.30 million for the quarter, compared to analysts’ expectations of $271.48 million. During the same quarter last year, the company earned $0.26 EPS. The business’s revenue was up 53.2% on a year-over-year basis. Equities analysts expect that Planet Fitness, Inc. will post 2.2 EPS for the current year.

Planet Fitness Profile

(Get Rating)

Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.

Further Reading

Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNT – Get Rating).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Planet Fitness, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Planet Fitness wasn’t on the list.

While Planet Fitness currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 Stocks to Sell Now

MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by entering your email address below.

Get This Free Report