Amundi Sells 1,189,228 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Amundi trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 29.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,884,333 shares of the company’s stock after selling 1,189,228 shares during the period. Amundi owned 3.41% of Planet Fitness worth $290,310,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp grew its position in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after acquiring an additional 37,236 shares in the last quarter. Ninety One UK Ltd bought a new stake in Planet Fitness in the fourth quarter worth approximately $130,376,000. FMR LLC grew its position in Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after acquiring an additional 691,761 shares in the last quarter. WCM Investment Management LLC bought a new stake in Planet Fitness in the fourth quarter worth approximately $22,289,000. Finally, Artemis Investment Management LLP bought a new stake in Planet Fitness in the fourth quarter worth approximately $18,767,000. 95.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. Piper Sandler upped their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Roth Mkm reaffirmed a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Macquarie decreased their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their price objective on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.00.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $97.41 on Friday. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $110.00. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 52.37, a P/E/G ratio of 2.45 and a beta of 1.54. The firm has a fifty day moving average of $101.63 and a 200-day moving average of $92.97.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter in the prior year, the company posted $0.60 EPS. The business’s revenue was up 19.4% on a year-over-year basis. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.51 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.