Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 21.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,507,695 shares of the company’s stock after selling 402,699 shares during the period. Bank of New York Mellon Corp’s holdings in Planet Fitness were worth $149,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of 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 buying an additional 157 shares during the last quarter. R Squared Ltd purchased a new position in shares of Planet Fitness in the fourth quarter worth $39,000. Point72 Hong Kong Ltd purchased a new position in shares of Planet Fitness in the third quarter worth $200,000. Beaumont Financial Advisors LLC purchased a new position in shares of Planet Fitness in the fourth quarter worth $202,000. Finally, KBC Group NV raised its holdings in shares of Planet Fitness by 14.7% in the third quarter. KBC Group NV now owns 2,503 shares of the company’s stock worth $203,000 after buying an additional 321 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PLNT shares. Piper Sandler raised their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Robert W. Baird raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. DA Davidson reissued a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Finally, Stifel Nicolaus reduced their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $99.00.

Planet Fitness Stock Performance

PLNT opened at $92.50 on Friday. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The company has a fifty day moving average of $102.28 and a two-hundred day moving average of $92.23. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 2.45 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same quarter last year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

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.