Handelsinvest Investeringsforvaltning Cuts Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Handelsinvest Investeringsforvaltning trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 34.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 3,044 shares of the company’s stock after selling 1,580 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Planet Fitness were worth $191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLNT. Allworth Financial LP boosted its stake in shares of Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after buying an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness in the 4th quarter worth $47,000. Asset Management One Co. Ltd. boosted its stake in shares of Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after buying an additional 148 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after buying an additional 197 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in shares of Planet Fitness by 169.6% in the 4th quarter. Quadrant Capital Group LLC now owns 1,181 shares of the company’s stock worth $86,000 after buying an additional 743 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Stock Up 0.6 %

NYSE:PLNT opened at $73.94 on Thursday. The business’s 50-day simple moving average is $66.58 and its two-hundred day simple moving average is $66.59. The stock has a market cap of $6.52 billion, a PE ratio of 42.49, a P/E/G ratio of 2.47 and a beta of 1.49. Planet Fitness, Inc. has a 52 week low of $44.13 and a 52 week high of $75.86.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PLNT. Morgan Stanley restated an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. Raymond James raised their price target on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 10th. Royal Bank of Canada lowered their target price on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and lowered their target price for the company from $80.00 to $70.00 in a research report on Friday, May 10th. Finally, Robert W. Baird lifted their target price on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.64.

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.