Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Cooper Creek Partners Management LLC

Cooper Creek Partners Management LLC lowered its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 41.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 691,808 shares of the company's stock after selling 482,785 shares during the quarter. Planet Fitness accounts for about 2.1% of Cooper Creek Partners Management LLC's portfolio, making the stock its 19th biggest holding. Cooper Creek Partners Management LLC owned 0.82% of Planet Fitness worth $68,399,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its stake in shares of Planet Fitness by 27.8% in the fourth quarter. Sterling Capital Management LLC now owns 3,035 shares of the company's stock worth $300,000 after acquiring an additional 660 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Planet Fitness by 2.4% in the fourth quarter. Bessemer Group Inc. now owns 351,730 shares of the company's stock worth $34,776,000 after buying an additional 8,182 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Planet Fitness during the 4th quarter valued at about $2,988,000. Renaissance Technologies LLC acquired a new stake in Planet Fitness in the 4th quarter valued at about $11,963,000. Finally, Invesco Ltd. boosted its holdings in shares of Planet Fitness by 199.7% during the 4th quarter. Invesco Ltd. now owns 482,732 shares of the company's stock worth $47,728,000 after purchasing an additional 321,644 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Down 0.6 %

Shares of PLNT traded down $0.57 during mid-day trading on Friday, hitting $93.91. The company had a trading volume of 1,037,277 shares, compared to its average volume of 1,438,202. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00. The business's 50-day simple moving average is $96.65 and its 200-day simple moving average is $95.93. The stock has a market cap of $7.95 billion, a PE ratio of 50.49, a P/E/G ratio of 2.45 and a beta of 1.39.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PLNT shares. Stifel Nicolaus cut their target price on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research note on Friday, February 28th. DA Davidson reiterated a "neutral" rating and issued a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Guggenheim boosted their price objective on Planet Fitness from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday. Piper Sandler increased their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $101.72.

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.