Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 39.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,903 shares of the company's stock after selling 15,561 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Planet Fitness were worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ninety One UK Ltd acquired a new position in shares of Planet Fitness during the 4th quarter valued at about $130,376,000. FMR LLC grew its holdings in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company's stock worth $64,609,000 after purchasing an additional 691,761 shares during the period. WCM Investment Management LLC purchased a new stake in Planet Fitness in the 4th quarter valued at about $22,289,000. Artemis Investment Management LLP purchased a new stake in Planet Fitness in the fourth quarter valued at approximately $18,767,000. Finally, American Century Companies Inc. lifted its position in shares of Planet Fitness by 36.4% during the fourth quarter. American Century Companies Inc. now owns 546,664 shares of the company's stock worth $54,049,000 after purchasing an additional 145,799 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on PLNT shares. BMO Capital Markets boosted their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday. Stifel Nicolaus lowered their price target on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a report on Friday, February 28th. Macquarie cut their price objective 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. DA Davidson restated a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Finally, Piper Sandler lifted 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. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.44.

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Planet Fitness Price Performance

Shares of PLNT stock traded down $1.31 during mid-day trading on Thursday, hitting $97.46. The stock had a trading volume of 1,618,449 shares, compared to its average volume of 1,452,703. The firm has a market cap of $8.25 billion, a PE ratio of 52.40, a PEG ratio of 2.45 and a beta of 1.39. The company's 50-day simple moving average is $99.75 and its 200-day simple moving average is $95.06. Planet Fitness, Inc. has a fifty-two week low of $57.64 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm's revenue was up 19.4% compared to the same quarter last year. On average, analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current 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.