Wells Fargo & Company MN Cuts Stake in Planet Fitness, Inc. (NYSE:PLNT)

Wells Fargo & Company MN lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNTFree Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,182 shares of the company’s stock after selling 5,610 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of Planet Fitness worth $8,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PLNT. Allworth Financial LP boosted its position in Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness during the fourth quarter valued at about $47,000. Covestor Ltd boosted its position in Planet Fitness by 19.5% during the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after purchasing an additional 238 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Up 3.8 %

Planet Fitness stock opened at $65.65 on Thursday. The stock has a 50-day moving average price of $62.41 and a 200 day moving average price of $65.96. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 37.73, a price-to-earnings-growth ratio of 2.14 and a beta of 1.43. Planet Fitness, Inc. has a 52 week low of $44.13 and a 52 week high of $75.86.

Planet Fitness (NYSE:PLNTGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. Planet Fitness’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Research analysts anticipate that Planet Fitness, Inc. will post 2.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PLNT shares. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Monday, April 1st. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and lowered their price target for the stock from $80.00 to $70.00 in a report on Friday, May 10th. Robert W. Baird raised their price target on Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Royal Bank of Canada lowered their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.86.

View Our Latest Report on PLNT

About Planet Fitness

(Free Report)

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.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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