Mitsubishi UFJ Asset Management Co. Ltd. Decreases Stake in Planet Fitness, Inc. (NYSE:PLNT)

Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 39.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Corient Private Wealth LLC lifted 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 worth $457,000 after acquiring an additional 94 shares during the last quarter. M&T Bank Corp grew its stake in shares of Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company's stock valued at $402,000 after buying an additional 124 shares in the last quarter. Cetera Trust Company N.A grew its position in Planet Fitness by 5.2% in the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock valued at $268,000 after acquiring an additional 135 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Planet Fitness by 67.4% during the fourth 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. Finally, Truist Financial Corp boosted its stake in shares of Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company's stock valued at $1,249,000 after purchasing an additional 161 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PLNT. Roth Mkm reiterated a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Piper Sandler increased their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Guggenheim reaffirmed a "buy" rating and set a $105.00 price objective on shares of Planet Fitness in a report on Thursday, February 27th. Macquarie decreased their target price on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Planet Fitness has a consensus rating of "Moderate Buy" and an average target price of $101.44.

Planet Fitness Price Performance

NYSE:PLNT traded down $4.74 on Friday, reaching $92.68. The stock had a trading volume of 1,599,288 shares, compared to its average volume of 1,453,204. The company has a market cap 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. Planet Fitness, Inc. has a 12-month low of $57.64 and a 12-month high of $110.00. The firm's fifty day moving average is $99.51 and its two-hundred day moving average is $95.31.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping 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 the consensus estimate of $324.57 million. During the same period in the prior year, the business posted $0.60 earnings per share. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

About Planet Fitness

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.