Federated Hermes Inc. Sells 130,470 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Federated Hermes Inc. decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 15.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 710,802 shares of the company's stock after selling 130,470 shares during the quarter. Federated Hermes Inc. owned about 0.84% of Planet Fitness worth $70,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Quantinno Capital Management LP increased its holdings in Planet Fitness by 149.2% during the 3rd quarter. Quantinno Capital Management LP now owns 27,971 shares of the company's stock worth $2,272,000 after acquiring an additional 16,748 shares during the period. State Street Corp raised its stake in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock valued at $205,061,000 after purchasing an additional 37,236 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in Planet Fitness during the third quarter valued at approximately $312,000. Y Intercept Hong Kong Ltd purchased a new position in Planet Fitness in the 3rd quarter worth approximately $604,000. Finally, M&T Bank Corp lifted its holdings in shares of Planet Fitness by 2.6% during the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company's stock worth $402,000 after acquiring an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Roth Mkm reaffirmed a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Canaccord Genuity Group began coverage on shares of Planet Fitness in a report on Thursday, March 13th. They issued a "buy" rating and a $120.00 price objective for the company. 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 analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and a consensus target price of $101.44.

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Planet Fitness Trading Up 3.7 %

PLNT traded up $3.52 during trading on Friday, reaching $97.58. The stock had a trading volume of 1,495,232 shares, compared to its average volume of 1,456,242. Planet Fitness, Inc. has a one year low of $57.64 and a one year high of $110.00. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 52.46, a P/E/G ratio of 2.45 and a beta of 1.39. The stock's 50 day moving average is $97.60 and its two-hundred day moving average is $95.64.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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 business had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Planet Fitness's quarterly revenue was up 19.4% on a year-over-year basis. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

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.