Price T Rowe Associates Inc. MD Sells 365,141 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Price T Rowe Associates Inc. MD trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 15.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,021,344 shares of the company's stock after selling 365,141 shares during the period. Price T Rowe Associates Inc. MD owned 2.39% of Planet Fitness worth $199,851,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLNT. Renaissance Technologies LLC acquired a new position in shares of Planet Fitness during the fourth quarter worth approximately $11,963,000. Jump Financial LLC acquired a new position in Planet Fitness during the 4th quarter worth $965,000. Tidal Investments LLC grew its stake in shares of Planet Fitness by 132.5% in the third quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock worth $2,352,000 after purchasing an additional 16,503 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Planet Fitness during the fourth quarter valued at $3,378,000. Finally, AMJ Financial Wealth Management bought a new stake in shares of Planet Fitness during the fourth quarter valued at about $495,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Down 0.6 %

Shares of Planet Fitness stock traded down $0.55 on Tuesday, hitting $95.60. 1,090,070 shares of the company traded hands, compared to its average volume of 1,413,666. The company has a 50-day moving average price of $95.69 and a 200 day moving average price of $96.80. Planet Fitness, Inc. has a 12-month low of $58.51 and a 12-month high of $110.00. The company has a market cap of $8.09 billion, a PE ratio of 51.40, a PEG ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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 company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter in the prior year, the business posted $0.60 EPS. Planet Fitness's quarterly revenue was up 19.4% on a year-over-year basis. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on PLNT. 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. BMO Capital Markets raised their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Royal Bank of Canada restated an "outperform" rating and issued a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. DA Davidson reiterated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group began coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price objective on the stock. Five investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $101.72.

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.