Nuveen Asset Management LLC Sells 37,560 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Nuveen Asset Management LLC trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 313,874 shares of the company’s stock after selling 37,560 shares during the quarter. Nuveen Asset Management LLC owned 0.37% of Planet Fitness worth $31,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at $11,963,000. Freestone Grove Partners LP bought a new position in shares of Planet Fitness in the 4th quarter worth approximately $25,676,000. Jump Financial LLC bought a new position in shares of Planet Fitness in the 4th quarter worth approximately $965,000. B. Metzler seel. Sohn & Co. AG bought a new position in shares of Planet Fitness in the 4th quarter worth approximately $3,378,000. Finally, Raymond James Financial Inc. bought a new position in shares of Planet Fitness in the 4th quarter worth approximately $2,988,000. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PLNT shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Macquarie reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. BMO Capital Markets raised their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Guggenheim reaffirmed a “buy” rating and issued a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. Finally, Canaccord Genuity Group began coverage on Planet Fitness in a report on Thursday, March 13th. They issued a “buy” rating and a $120.00 target price on the stock. Four 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

Planet Fitness Price Performance

Planet Fitness stock opened at $103.96 on Thursday. The stock has a market cap of $8.75 billion, a P/E ratio of 55.89, a PEG ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a 1 year low of $60.56 and a 1 year high of $110.00. The firm’s 50 day moving average price is $97.02 and its 200-day moving average price is $98.69.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $276.66 million during the quarter, compared to the consensus estimate of $279.80 million. During the same period last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts expect 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.