Commonwealth Equity Services LLC Sells 603 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Commonwealth Equity Services LLC reduced its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,402 shares of the company’s stock after selling 603 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Planet Fitness were worth $2,907,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PLNT. M&T Bank Corp boosted its position in Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after buying an additional 124 shares in the last quarter. Cetera Trust Company N.A lifted its stake in shares of Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after acquiring an additional 135 shares during the last quarter. UMB Bank n.a. boosted its holdings 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 acquiring an additional 157 shares in the last quarter. Truist Financial Corp grew its position in Planet Fitness by 1.3% during the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after acquiring an additional 161 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock worth $207,000 after purchasing an additional 192 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Planet Fitness stock opened at $99.83 on Wednesday. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 53.67, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 52-week low of $57.64 and a 52-week high of $110.00. The stock’s 50 day moving average price is $100.89 and its two-hundred day moving average price is $94.45.

Planet Fitness (NYSE:PLNT) last issued its earnings results 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. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same period in the prior year, the firm earned $0.60 earnings per share. Planet Fitness’s revenue was up 19.4% on a year-over-year basis. On average, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLNT. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Roth Mkm reaffirmed a “buy” rating and set a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $105.00 price objective on shares of Planet Fitness in a research note on Thursday, February 27th. Finally, Piper Sandler raised their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Five investment 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $100.17.

About Planet Fitness

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.