Charles Schwab Investment Management Inc. Sells 6,988 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 927,839 shares of the company's stock after selling 6,988 shares during the period. Charles Schwab Investment Management Inc. owned about 1.10% of Planet Fitness worth $91,735,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Heritage Oak Wealth Advisors LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth $2,704,000. Proficio Capital Partners LLC acquired a new position in shares of Planet Fitness in the 4th quarter valued at $51,000. Oppenheimer Asset Management Inc. boosted its position in shares of Planet Fitness by 11.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 6,546 shares of the company's stock valued at $647,000 after purchasing an additional 649 shares during the period. Walter Public Investments Inc. increased its stake in Planet Fitness by 0.6% in the 4th quarter. Walter Public Investments Inc. now owns 163,673 shares of the company's stock worth $16,182,000 after purchasing an additional 964 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in Planet Fitness during the 4th quarter worth about $227,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PLNT shares. JPMorgan Chase & Co. raised their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. DA Davidson reiterated a "neutral" rating and set a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research note on Monday, February 24th. Piper Sandler upped their price target on Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Finally, Roth Mkm restated a "buy" rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $99.00.

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Planet Fitness Price Performance

Shares of NYSE PLNT traded down $3.60 during trading hours on Monday, hitting $93.71. 2,148,491 shares of the stock were exchanged, compared to its average volume of 1,688,506. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $110.00. The company's 50 day moving average is $101.63 and its 200 day moving average is $93.06. The firm has a market capitalization of $7.93 billion, a P/E ratio of 50.38, a P/E/G ratio of 2.45 and a beta of 1.54.

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. The company had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm's revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. Research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal 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.