Triodos Investment Management BV Sells 33,000 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Triodos Investment Management BV reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 9.5% in the fourth quarter, Holdings Channel reports. The firm owned 314,000 shares of the company’s stock after selling 33,000 shares during the quarter. Planet Fitness accounts for 2.5% of Triodos Investment Management BV’s holdings, making the stock its 17th biggest holding. Triodos Investment Management BV’s holdings in Planet Fitness were worth $31,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ninety One UK Ltd purchased a new position in shares of Planet Fitness during the 4th quarter valued at about $130,376,000. Norges Bank purchased a new position in shares of Planet Fitness in the fourth quarter valued at $100,009,000. FMR LLC increased its holdings 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 buying an additional 691,761 shares during the last quarter. WCM Investment Management LLC purchased a new stake in Planet Fitness during the fourth quarter valued at approximately $22,289,000. Finally, Artemis Investment Management LLP purchased a new position in Planet Fitness during the fourth quarter worth $18,767,000. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PLNT shares. JPMorgan Chase & Co. increased their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Canaccord Genuity Group began coverage on Planet Fitness in a research report on Thursday, March 13th. They set a “buy” rating and a $120.00 target price for the company. DA Davidson restated a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Piper Sandler lifted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Roth Mkm restated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $99.21 on Friday. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00. The firm has a fifty day moving average price of $100.63 and a 200 day moving average price of $94.53. The stock has a market cap of $8.40 billion, a P/E ratio of 53.34, a P/E/G ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. Sell-side analysts expect that Planet Fitness, Inc. will post 2.51 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.