Sei Investments Co. Cuts Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Sei Investments Co. trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 15.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,265 shares of the company's stock after selling 19,394 shares during the period. Sei Investments Co. owned about 0.13% of Planet Fitness worth $10,902,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PLNT. UMB Bank n.a. raised its position in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after acquiring an additional 157 shares during the period. R Squared Ltd bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $39,000. Proficio Capital Partners LLC purchased a new position in Planet Fitness in the fourth quarter valued at approximately $51,000. Skandinaviska Enskilda Banken AB publ lifted its stake in Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Planet Fitness during the third quarter valued at $200,000. 95.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PLNT has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and set a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th. Royal Bank of Canada reiterated an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a research report on Monday, February 24th. Roth Mkm reiterated a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They set a "buy" rating and a $120.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $101.44.

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Planet Fitness Price Performance

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

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 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 during the quarter, compared to analyst estimates of $324.57 million. During the same period in the previous year, the business earned $0.60 earnings per share. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. On average, equities analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.