Peregrine Capital Management LLC Trims Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Peregrine Capital Management LLC trimmed its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 521,014 shares of the company's stock after selling 24,995 shares during the quarter. Planet Fitness makes up 1.5% of Peregrine Capital Management LLC's portfolio, making the stock its 12th biggest holding. Peregrine Capital Management LLC owned approximately 0.62% of Planet Fitness worth $51,513,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PLNT. Tidal Investments LLC increased its stake in Planet Fitness by 132.5% in the third quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock valued at $2,352,000 after purchasing an additional 16,503 shares during the last quarter. State Street Corp increased 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 during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Planet Fitness in the third quarter valued at $604,000. Nkcfo LLC acquired a new position in Planet Fitness in the fourth quarter valued at $1,088,000. Finally, Artemis Investment Management LLP acquired a new position in Planet Fitness in the fourth quarter valued at $18,767,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Down 2.9 %

Shares of NYSE PLNT traded down $2.85 on Friday, hitting $96.78. The company had a trading volume of 2,414,750 shares, compared to its average volume of 1,420,984. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $110.00. The business has a 50 day moving average of $102.81 and a two-hundred day moving average of $91.80. The firm has a market capitalization of $8.19 billion, a P/E ratio of 52.03, a PEG ratio of 2.47 and a beta of 1.53.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Piper Sandler upped their target price on Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Morgan Stanley boosted their price target on Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. Raymond James boosted their price target on Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a research report on Friday, November 8th. Finally, Macquarie reissued a "neutral" rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $97.69.

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.