Signaturefd LLC Reduces Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Signaturefd LLC trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 28.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 492 shares of the company’s stock after selling 196 shares during the period. Signaturefd LLC’s holdings in Planet Fitness were worth $36,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness during the fourth quarter worth $47,000. Covestor Ltd boosted its position in shares of Planet Fitness by 19.5% during the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after buying an additional 238 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after buying an additional 148 shares during the period. Finally, Larson Financial Group LLC purchased a new position in shares of Planet Fitness during the third quarter worth $182,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PLNT. Stifel Nicolaus reduced their price objective on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Monday, April 1st. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Finally, Piper Sandler lifted their price objective on Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus price target of $71.00.

Planet Fitness Trading Down 0.9 %

Shares of Planet Fitness stock opened at $59.52 on Friday. The company has a fifty day moving average price of $61.59 and a 200 day moving average price of $64.94. Planet Fitness, Inc. has a twelve month low of $44.13 and a twelve month high of $75.86. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 36.74, a price-to-earnings-growth ratio of 1.91 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The firm had revenue of $285.10 million during the quarter, compared to analysts’ expectations of $282.35 million. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. Analysts forecast that Planet Fitness, Inc. will post 2.48 earnings per share for the current year.

Planet Fitness 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.