Champlain Investment Partners LLC decreased its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 32.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,296,309 shares of the company's stock after selling 1,089,387 shares during the quarter. Planet Fitness makes up 1.4% of Champlain Investment Partners LLC's holdings, making the stock its 16th largest holding. Champlain Investment Partners LLC owned about 2.71% of Planet Fitness worth $227,036,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in PLNT. Corient Private Wealth LLC raised its holdings in shares of Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock valued at $457,000 after purchasing an additional 94 shares in the last quarter. M&T Bank Corp raised its stake in Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company's stock worth $402,000 after buying an additional 124 shares in the last quarter. Cetera Trust Company N.A lifted its holdings in Planet Fitness by 5.2% during the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock worth $268,000 after buying an additional 135 shares during the period. UMB Bank n.a. boosted its position in Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after acquiring an additional 157 shares in the last quarter. Finally, Truist Financial Corp boosted its position in Planet Fitness by 1.3% during the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company's stock valued at $1,249,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on PLNT shares. Macquarie cut their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 target price for the company. DA Davidson restated a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Roth Mkm reaffirmed a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.72.
Read Our Latest Stock Report on PLNT
Planet Fitness Stock Performance
Shares of NYSE:PLNT traded up $2.41 during trading on Tuesday, reaching $95.46. The stock had a trading volume of 280,979 shares, compared to its average volume of 1,429,012. The business has a fifty day moving average price of $96.28 and a 200-day moving average price of $96.27. Planet Fitness, Inc. has a 1-year low of $58.23 and a 1-year high of $110.00. The stock has a market cap of $8.08 billion, a PE ratio of 51.32, a PEG ratio of 2.45 and a beta of 1.39.
Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $340.50 million for 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%. Planet Fitness's quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Sell-side analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.
About Planet Fitness
(
Free Report)
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.
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