Synergy Financial Group LTD Sells 553 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Synergy Financial Group LTD lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 17.3% during the 4th quarter, HoldingsChannel reports. The fund owned 2,641 shares of the company’s stock after selling 553 shares during the period. Synergy Financial Group LTD’s holdings in Planet Fitness were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after purchasing an additional 37,236 shares during the period. Ninety One UK Ltd purchased a new position in Planet Fitness during the 4th quarter valued at about $130,376,000. FMR LLC increased its position in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after buying an additional 691,761 shares during the period. WCM Investment Management LLC purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $22,289,000. Finally, Artemis Investment Management LLP bought a new position in shares of Planet Fitness in the fourth quarter valued at approximately $18,767,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Trading Up 2.8 %

Shares of NYSE:PLNT opened at $99.63 on Tuesday. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $110.00. The stock’s 50-day moving average price is $102.82 and its 200-day moving average price is $92.17. The stock has a market capitalization of $8.43 billion, a P/E ratio of 53.56, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PLNT shares. JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. DA Davidson reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Raymond James lifted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a research note on Monday. Finally, Piper Sandler lifted their price target on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.69.

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.