Planet Fitness, Inc. (NYSE:PLNT) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ grew its stake in Planet Fitness, Inc. (NYSE:PLNT) by 1,139.5% in the fourth quarter, Holdings Channel reports. The fund owned 533 shares of the company’s stock after purchasing an additional 490 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Planet Fitness were worth $53,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PLNT. Ninety One UK Ltd acquired a new stake in shares of Planet Fitness in the 4th quarter worth $130,376,000. FMR LLC increased its stake in shares of Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after acquiring an additional 691,761 shares during the last quarter. WCM Investment Management LLC acquired a new stake in shares of Planet Fitness in the 4th quarter worth $22,289,000. Artemis Investment Management LLP acquired a new stake in shares of Planet Fitness in the 4th quarter worth $18,767,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Planet Fitness in the 4th quarter worth $51,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Shares of PLNT opened at $98.74 on Wednesday. The stock has a 50-day simple moving average of $101.01 and a 200-day simple moving average of $93.75. The stock has a market capitalization of $8.36 billion, a PE ratio of 53.09, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data 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. The business had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. Analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Piper Sandler raised their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. DA Davidson reissued a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Roth Mkm reissued a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus cut their price objective on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.17.

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.