Allspring Global Investments Holdings LLC Trims Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Allspring Global Investments Holdings LLC decreased its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 145,287 shares of the company’s stock after selling 35,524 shares during the period. Allspring Global Investments Holdings LLC owned 0.17% of Planet Fitness worth $14,469,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. UMB Bank n.a. grew its position in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after purchasing an additional 157 shares in the last quarter. R Squared Ltd purchased a new position in Planet Fitness during the fourth quarter worth about $39,000. V Square Quantitative Management LLC grew its position in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after buying an additional 201 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Planet Fitness during the third quarter worth about $200,000. Finally, Beaumont Financial Advisors LLC purchased a new position in Planet Fitness during the fourth quarter worth about $202,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PLNT. JPMorgan Chase & Co. boosted their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. DA Davidson reissued a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Raymond James upped their target price 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. 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 Wednesday, January 15th. Finally, Piper Sandler upped their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Stock Down 2.7 %

Shares of PLNT opened at $101.07 on Tuesday. The firm has a fifty day simple moving average of $102.93 and a two-hundred day simple moving average of $91.32. The stock has a market capitalization of $8.55 billion, a P/E ratio of 54.34, a PEG ratio of 2.68 and a beta of 1.53. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $110.00.

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.