Pictet Asset Management Holding SA Has $69.94 Million Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Pictet Asset Management Holding SA trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 707,359 shares of the company's stock after selling 46,101 shares during the period. Pictet Asset Management Holding SA owned approximately 0.84% of Planet Fitness worth $69,937,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Planet Fitness by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock worth $794,496,000 after buying an additional 39,928 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Planet Fitness by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock worth $356,841,000 after acquiring an additional 36,803 shares in the last quarter. State Street Corp raised its holdings in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock worth $205,061,000 after acquiring an additional 37,236 shares in the last quarter. Ninety One UK Ltd acquired a new stake in Planet Fitness during the fourth quarter valued at $130,376,000. Finally, Norges Bank purchased a new position in Planet Fitness in the fourth quarter valued at about $100,009,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Stock Down 0.8 %

NYSE PLNT traded down $0.81 during trading on Tuesday, hitting $95.80. The company's stock had a trading volume of 1,488,875 shares, compared to its average volume of 1,457,593. Planet Fitness, Inc. has a 52 week low of $57.64 and a 52 week high of $110.00. The firm has a market cap of $8.11 billion, a P/E ratio of 51.50, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The firm has a 50 day moving average price of $100.30 and a 200 day moving average price of $94.93.

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Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Planet Fitness's revenue was up 19.4% compared to the same quarter last year. On average, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PLNT shares. Stifel Nicolaus reduced their price target on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a report on Friday, February 28th. Piper Sandler lifted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. DA Davidson restated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Roth Mkm reaffirmed a "buy" rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $101.44.

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.