Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,715,882 shares of the company's stock after selling 82,524 shares during the quarter. Franklin Resources Inc. owned 2.03% of Planet Fitness worth $169,649,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. UMB Bank n.a. grew its stake in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after buying an additional 157 shares in the last quarter. R Squared Ltd acquired a new position in Planet Fitness in the 4th quarter valued at about $39,000. Proficio Capital Partners LLC acquired a new position in Planet Fitness in the 4th quarter valued at about $51,000. Skandinaviska Enskilda Banken AB publ increased its stake 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 worth $53,000 after purchasing an additional 490 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Planet Fitness during the third quarter worth about $200,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Down 4.9 %

NYSE:PLNT traded down $4.74 during trading hours on Friday, reaching $92.68. 1,599,288 shares of the company's stock were exchanged, compared to its average volume of 1,453,204. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 49.83, a P/E/G ratio of 2.45 and a beta of 1.39. The company has a 50-day moving average of $99.51 and a 200 day moving average of $95.23.

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Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $340.50 million for the quarter, compared to analysts' expectations of $324.57 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. Research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PLNT shares. Piper Sandler boosted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Roth Mkm restated a "buy" rating and set a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Canaccord Genuity Group began coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price objective for the company. BMO Capital Markets boosted their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, Macquarie reduced their target price on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $101.44.

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.