Corebridge Financial Inc. Cuts Stake in Planet Fitness, Inc. (NYSE:PLNT)

Corebridge Financial Inc. lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,782 shares of the company’s stock after selling 4,809 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Planet Fitness worth $9,470,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Ninety One UK Ltd acquired a new position in Planet Fitness during the 4th quarter worth $130,376,000. FMR LLC increased its stake in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after buying an additional 691,761 shares during the period. WCM Investment Management LLC acquired a new stake in Planet Fitness in the fourth quarter valued at approximately $22,289,000. Artemis Investment Management LLP purchased a new position in Planet Fitness in the fourth quarter worth approximately $18,767,000. Finally, American Century Companies Inc. grew its holdings in Planet Fitness by 36.4% during the 4th quarter. American Century Companies Inc. now owns 546,664 shares of the company’s stock worth $54,049,000 after acquiring an additional 145,799 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PLNT shares. Guggenheim reiterated a “buy” rating and set a $105.00 target price on shares of Planet Fitness in a research note on Thursday, February 27th. Piper Sandler upped their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Roth Mkm reaffirmed a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Finally, Macquarie cut their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Five 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.17.

Planet Fitness Trading Up 0.9 %

NYSE PLNT opened at $100.68 on Thursday. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 54.13, a PEG ratio of 2.45 and a beta of 1.54. The business’s 50 day moving average is $100.76 and its two-hundred day moving average is $94.49. Planet Fitness, Inc. has a 12-month low of $57.64 and a 12-month high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Planet Fitness’s quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal 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.