Federated Hermes Inc. Sells 221,963 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Federated Hermes Inc. decreased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 18.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 974,314 shares of the company’s stock after selling 221,963 shares during the quarter. Federated Hermes Inc.’s holdings in Planet Fitness were worth $71,125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in shares of Planet Fitness by 13.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after buying an additional 157 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Planet Fitness by 801.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after buying an additional 1,635 shares during the period. MetLife Investment Management LLC acquired a new stake in Planet Fitness during the 1st quarter valued at approximately $357,000. BlackRock Inc. increased its position in Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after purchasing an additional 1,852,867 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in Planet Fitness during the 1st quarter valued at approximately $919,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT opened at $58.65 on Friday. The business has a 50-day moving average of $63.00 and a 200 day moving average of $64.18. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $84.48. The firm has a market cap of $5.17 billion, a P/E ratio of 36.20, a price-to-earnings-growth ratio of 1.93 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The company had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. During the same quarter last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts predict that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PLNT. Piper Sandler raised their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Stifel Nicolaus cut their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. DA Davidson reiterated a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a report on Monday, February 5th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Royal Bank of Canada raised their price objective on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $71.00.

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.