AlphaQuest LLC Sells 6,821 Shares of Planet Fitness, Inc. (NYSE:PLNT)

AlphaQuest LLC cut its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 71.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,683 shares of the company's stock after selling 6,821 shares during the quarter. AlphaQuest LLC's holdings in Planet Fitness were worth $265,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. UMB Bank n.a. lifted its stake 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. R Squared Ltd purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $39,000. Beaumont Financial Advisors LLC bought a new position in Planet Fitness during the fourth quarter valued at approximately $202,000. GAMMA Investing LLC grew its holdings in Planet Fitness by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock valued at $207,000 after buying an additional 192 shares in the last quarter. Finally, Personal CFO Solutions LLC bought a new stake in Planet Fitness in the 4th quarter worth approximately $210,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Roth Mkm reissued a "buy" rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Stifel Nicolaus reduced their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a report on Friday, February 28th. DA Davidson reaffirmed a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Piper Sandler boosted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, Macquarie lowered their price objective on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Planet Fitness presently has an average rating of "Moderate Buy" and an average target price of $100.17.

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Planet Fitness Trading Up 2.0 %

Shares of NYSE PLNT traded up $1.94 during trading hours on Wednesday, reaching $100.66. The stock had a trading volume of 1,213,630 shares, compared to its average volume of 1,641,066. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $110.00. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 54.12, a P/E/G ratio of 2.45 and a beta of 1.54. The business's fifty day moving average price is $101.01 and its two-hundred day moving average price is $93.75.

Planet Fitness (NYSE:PLNT - Get Free Report) last released 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. The company had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.