Planet Fitness, Inc. $PLNT Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 26.0% during the third quarter, HoldingsChannel reports. The firm owned 227,850 shares of the company’s stock after selling 79,927 shares during the period. Principal Financial Group Inc.’s holdings in Planet Fitness were worth $23,651,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC grew its holdings in shares of Planet Fitness by 33.1% during the third quarter. AlphaQuest LLC now owns 7,048 shares of the company’s stock worth $732,000 after buying an additional 1,752 shares during the last quarter. Arizona State Retirement System lifted its position in Planet Fitness by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 24,812 shares of the company’s stock worth $2,575,000 after acquiring an additional 286 shares during the period. AustralianSuper Pty Ltd grew its stake in shares of Planet Fitness by 11.1% in the 3rd quarter. AustralianSuper Pty Ltd now owns 422,001 shares of the company’s stock valued at $43,804,000 after purchasing an additional 42,103 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Planet Fitness by 21.0% in the 3rd quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after purchasing an additional 130,687 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. increased its holdings in shares of Planet Fitness by 100.0% in the third quarter. Hussman Strategic Advisors Inc. now owns 21,000 shares of the company’s stock valued at $2,180,000 after purchasing an additional 10,500 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. Canaccord Genuity Group raised their target price on shares of Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. William Blair reiterated an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. Morgan Stanley increased their price target on shares of Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Finally, Macquarie Infrastructure lowered their price objective on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $122.27.

Planet Fitness Stock Up 1.3%

Shares of NYSE PLNT opened at $91.77 on Friday. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Planet Fitness, Inc. has a 52 week low of $87.72 and a 52 week high of $114.47. The firm has a 50-day moving average price of $103.23 and a 200 day moving average price of $102.97.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The company had revenue of $330.35 million during the quarter, compared to analysts’ expectations of $323.95 million. During the same period last year, the company posted $0.64 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.