Van Berkom & Associates Inc. reduced its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 824,853 shares of the company's stock after selling 178,597 shares during the period. Planet Fitness comprises approximately 2.4% of Van Berkom & Associates Inc.'s holdings, making the stock its 19th largest position. Van Berkom & Associates Inc. owned approximately 0.98% of Planet Fitness worth $81,553,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. State Street Corp increased its stake in Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company's stock valued at $205,061,000 after buying an additional 37,236 shares during the period. Ninety One UK Ltd acquired a new position in shares of Planet Fitness in the fourth quarter worth $130,376,000. FMR LLC boosted its position in Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company's stock valued at $64,609,000 after purchasing an additional 691,761 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Planet Fitness during the fourth quarter valued at $22,289,000. Finally, Artemis Investment Management LLP acquired a new position in Planet Fitness in the 4th quarter worth about $18,767,000. Institutional investors and hedge funds own 95.53% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on PLNT shares. Macquarie reiterated a "neutral" rating and set a $99.00 price target (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. DA Davidson reiterated a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Stifel Nicolaus lifted their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Friday, January 17th. Finally, Morgan Stanley increased their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.69.
Read Our Latest Research Report on Planet Fitness
Planet Fitness Stock Down 0.5 %
PLNT opened at $99.61 on Friday. The stock's 50 day moving average price is $102.88 and its two-hundred day moving average price is $91.63. The firm has a market capitalization of $8.43 billion, a P/E ratio of 53.55, a price-to-earnings-growth ratio of 2.47 and a beta of 1.53. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $110.00.
About Planet Fitness
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNT - Free Report).
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