Patten & Patten Inc. TN Reduces Stake in Planet Fitness, Inc. (NYSE:PLNT)

Patten & Patten Inc. TN lowered its position in Planet Fitness, Inc. (NYSE:PLNT) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,376 shares of the company’s stock after selling 945 shares during the period. Patten & Patten Inc. TN’s holdings in Planet Fitness were worth $1,619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Corient Private Wealth LLC boosted its position in Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock worth $457,000 after purchasing an additional 94 shares in the last quarter. M&T Bank Corp boosted its position in Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after purchasing an additional 124 shares in the last quarter. Cetera Trust Company N.A boosted its position in Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock worth $268,000 after purchasing an additional 135 shares in the last quarter. UMB Bank n.a. boosted its position in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares in the last quarter. Finally, Truist Financial Corp boosted its position in Planet Fitness by 1.3% in the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after purchasing an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Up 2.5 %

Shares of PLNT opened at $95.56 on Monday. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $110.00. The company has a market capitalization of $8.09 billion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The stock has a fifty day simple moving average of $101.07 and a two-hundred day simple moving average of $93.50.

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 analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. As a group, equities analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLNT. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. Guggenheim reiterated a “buy” rating and set a $105.00 target price on shares of Planet Fitness in a research report on Thursday, February 27th. Roth Mkm reiterated a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. DA Davidson reiterated a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Piper Sandler increased their target price on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus price target of $100.17.

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.