Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 18.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 974,314 shares of the company’s stock after selling 221,963 shares during the quarter. Federated Hermes Inc. owned 1.11% of Planet Fitness worth $71,125,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PLNT. Cadian Capital Management LP increased its stake in shares of Planet Fitness by 164.7% during the third quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock worth $198,860,000 after acquiring an additional 2,516,007 shares during the period. BlackRock Inc. increased its stake in shares of Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after acquiring an additional 1,852,867 shares during the period. State Street Corp increased its stake in shares of Planet Fitness by 78.4% during the second quarter. State Street Corp now owns 2,295,657 shares of the company’s stock worth $154,819,000 after acquiring an additional 1,008,875 shares during the period. Norges Bank acquired a new position in shares of Planet Fitness during the fourth quarter worth about $63,014,000. Finally, Pelham Capital Ltd. purchased a new stake in Planet Fitness during the third quarter worth about $36,172,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on PLNT shares. Stifel Nicolaus decreased their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. DA Davidson reissued a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a report on Monday, February 5th. Morgan Stanley reissued an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a report on Monday, April 1st. JPMorgan Chase & Co. decreased their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, eight 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

Planet Fitness Stock Down 1.2 %

Planet Fitness stock opened at $58.65 on Friday. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $84.48. The firm has a fifty day moving average of $63.00 and a 200-day moving average of $64.18. The firm has a market capitalization of $5.17 billion, a P/E ratio of 36.20, a PEG ratio of 1.93 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. On average, research analysts expect that Planet Fitness, Inc. will post 2.48 EPS for the current fiscal 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.