Covestor Ltd Sells 1,168 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Covestor Ltd trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 44.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,463 shares of the company’s stock after selling 1,168 shares during the period. Covestor Ltd’s holdings in Planet Fitness were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Pacer Advisors Inc. boosted its stake in Planet Fitness by 80.4% during the 4th quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock valued at $937,000 after purchasing an additional 5,719 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness during the fourth quarter worth $47,000. Perfromance Wealth Partners LLC bought a new stake in Planet Fitness during the fourth quarter worth $206,000. Osborne Partners Capital Management LLC raised its position in Planet Fitness by 0.7% in the 4th quarter. Osborne Partners Capital Management LLC now owns 129,481 shares of the company’s stock valued at $9,452,000 after buying an additional 940 shares during the last quarter. Finally, Oak Thistle LLC bought a new position in Planet Fitness during the 4th quarter valued at $389,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of PLNT traded down $0.63 during trading hours on Wednesday, hitting $75.95. The company’s stock had a trading volume of 339,147 shares, compared to its average volume of 1,654,292. The business has a 50 day simple moving average of $70.32 and a two-hundred day simple moving average of $66.81. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $79.09. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 2.57 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. Planet Fitness’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 EPS. Research analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and upped their target price for the stock from $62.00 to $100.00 in a research note on Monday, June 10th. Royal Bank of Canada dropped their target price on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Raymond James upped their price objective on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $77.64.

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.