Principal Financial Group Inc. Cuts Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Principal Financial Group Inc. reduced its position in Planet Fitness, Inc. (NYSE:PLNT) by 33.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,813 shares of the company’s stock after selling 101,293 shares during the quarter. Principal Financial Group Inc. owned 0.22% of Planet Fitness worth $16,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLNT. SG Americas Securities LLC raised its stake in Planet Fitness by 46.5% in the 1st quarter. SG Americas Securities LLC now owns 7,931 shares of the company’s stock valued at $497,000 after purchasing an additional 2,517 shares during the last quarter. Swiss National Bank raised its stake in shares of Planet Fitness by 1.1% during the 1st quarter. Swiss National Bank now owns 168,585 shares of the company’s stock worth $10,558,000 after buying an additional 1,900 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Planet Fitness by 8.4% in the 1st quarter. Russell Investments Group Ltd. now owns 13,587 shares of the company’s stock valued at $851,000 after purchasing an additional 1,057 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Planet Fitness by 4.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 125,696 shares of the company’s stock valued at $7,872,000 after buying an additional 5,535 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Planet Fitness by 4.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 92,400 shares of the company’s stock worth $5,787,000 after purchasing an additional 3,860 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 1.0 %

Shares of Planet Fitness stock opened at $95.26 on Friday. The company has a 50-day simple moving average of $83.25 and a two-hundred day simple moving average of $76.00. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 51.22, a price-to-earnings-growth ratio of 3.22 and a beta of 1.49. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $98.59.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same period in the previous year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PLNT shares. Macquarie reiterated a “neutral” rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Stifel Nicolaus boosted their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Roth Mkm raised their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.81.

About Planet Fitness

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.