Geode Capital Management LLC Sells 15,781 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Geode Capital Management LLC trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,439,703 shares of the company's stock after selling 15,781 shares during the period. Geode Capital Management LLC owned approximately 1.70% of Planet Fitness worth $142,388,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. UMB Bank n.a. increased its position in Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock valued at $39,000 after buying an additional 157 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Planet Fitness in the fourth quarter worth $39,000. Proficio Capital Partners LLC bought a new position in shares of Planet Fitness during the fourth quarter valued at $51,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after purchasing an additional 490 shares during the last quarter. Finally, Beaumont Financial Advisors LLC bought a new position in Planet Fitness in the 4th quarter worth about $202,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Up 3.7 %

PLNT stock traded up $3.52 during trading on Friday, reaching $97.58. The company's stock had a trading volume of 1,495,232 shares, compared to its average volume of 1,456,242. The company's fifty day moving average is $97.60 and its 200-day moving average is $95.64. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The company has a market capitalization of $8.26 billion, a P/E ratio of 52.46, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39.

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Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $324.57 million. During the same quarter last year, the business posted $0.60 earnings per share. The firm's revenue was up 19.4% on a year-over-year basis. Analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

PLNT has been the subject of several recent analyst reports. Piper Sandler lifted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. BMO Capital Markets increased their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Macquarie reduced their price objective on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Stifel Nicolaus lowered their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Finally, Roth Mkm reiterated a "buy" rating and issued a $115.00 price target (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $101.44.

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.