Corebridge Financial Inc. Trims Stake in Planet Fitness, Inc. (NYSE:PLNT)

Corebridge Financial Inc. lessened its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,782 shares of the company's stock after selling 4,809 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Planet Fitness worth $9,470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLNT. UMB Bank n.a. lifted its holdings in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after acquiring an additional 157 shares during the last quarter. R Squared Ltd bought a new position in Planet Fitness in the fourth quarter valued at $39,000. Skandinaviska Enskilda Banken AB publ raised its position in Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares in the last quarter. Beaumont Financial Advisors LLC bought a new stake in Planet Fitness during the fourth quarter worth about $202,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock worth $207,000 after purchasing an additional 192 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Up 0.4 %

NYSE PLNT traded up $0.34 on Monday, hitting $96.56. The company's stock had a trading volume of 1,092,213 shares, compared to its average volume of 1,457,468. The firm has a market cap of $8.18 billion, a P/E ratio of 51.91, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 52-week low of $57.64 and a 52-week high of $110.00. The company's 50-day simple moving average is $100.30 and its 200 day simple moving average is $94.93.

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Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS 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 negative return on equity of 107.97% and a net margin of 14.23%. The firm's revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. On average, research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PLNT shares. Guggenheim reissued a "buy" rating and set a $105.00 price objective on shares of Planet Fitness in a report on Thursday, February 27th. DA Davidson reiterated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 target price on the stock. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.44.

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.