Symmetry Investments LP Cuts Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Symmetry Investments LP reduced its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,119 shares of the company's stock after selling 7,281 shares during the period. Symmetry Investments LP's holdings in Planet Fitness were worth $3,868,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Planet Fitness by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock valued at $794,496,000 after buying an additional 39,928 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock valued at $782,169,000 after acquiring an additional 2,570,826 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Planet Fitness by 1.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock valued at $356,841,000 after acquiring an additional 36,803 shares in the last quarter. Anomaly Capital Management LP grew its position in Planet Fitness by 20.3% during the 4th quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock worth $175,256,000 after acquiring an additional 299,148 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in Planet Fitness in the 4th quarter worth about $130,376,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Performance

Shares of Planet Fitness stock traded down $0.56 during trading hours on Friday, reaching $95.77. The company's stock had a trading volume of 1,077,698 shares, compared to its average volume of 1,419,394. The company has a market capitalization of $8.11 billion, a P/E ratio of 51.49, a P/E/G ratio of 2.45 and a beta of 1.39. The stock's fifty day simple moving average is $95.85 and its two-hundred day simple moving average is $96.48. Planet Fitness, Inc. has a one year low of $58.51 and a one year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The business had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. As a group, research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Roth Mkm restated a "buy" rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Guggenheim upped their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, April 14th. BMO Capital Markets raised their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Piper Sandler raised their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.