Allspring Global Investments Holdings LLC Sells 35,524 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Allspring Global Investments Holdings LLC lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 145,287 shares of the company's stock after selling 35,524 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.17% of Planet Fitness worth $14,469,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Kestra Private Wealth Services LLC raised its position in Planet Fitness by 5.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 4,442 shares of the company's stock valued at $439,000 after purchasing an additional 214 shares during the period. WCM Investment Management LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at approximately $22,289,000. Ninety One SA PTY Ltd purchased a new stake in Planet Fitness during the 4th quarter valued at $2,539,000. Ninety One UK Ltd bought a new stake in Planet Fitness in the fourth quarter worth $130,376,000. Finally, Chicago Capital LLC purchased a new position in Planet Fitness during the fourth quarter worth $742,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PLNT shares. Robert W. Baird increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research report on Wednesday, January 15th. Macquarie reissued a "neutral" rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. DA Davidson reaffirmed a "neutral" rating and set a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Piper Sandler raised their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.69.

Planet Fitness Trading Down 2.9 %

Shares of PLNT traded down $2.85 during mid-day trading on Friday, hitting $96.78. The company's stock had a trading volume of 2,414,750 shares, compared to its average volume of 1,420,984. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 52.03, a PEG ratio of 2.47 and a beta of 1.53. The company's 50-day moving average is $102.81 and its 200-day moving average is $91.80. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $110.00.

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.