Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by BW Gestao de Investimentos Ltda.

BW Gestao de Investimentos Ltda. cut its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 66.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,000 shares of the company's stock after selling 60,600 shares during the quarter. BW Gestao de Investimentos Ltda.'s holdings in Planet Fitness were worth $2,966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its holdings in Planet Fitness by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock valued at $782,169,000 after acquiring an additional 2,570,826 shares in the last quarter. Ninety One UK Ltd acquired a new position in Planet Fitness in the fourth quarter worth about $130,376,000. Norges Bank acquired a new position in Planet Fitness in the fourth quarter worth about $100,009,000. Invesco Ltd. raised its stake in Planet Fitness by 199.7% during the fourth quarter. Invesco Ltd. now owns 482,732 shares of the company's stock valued at $47,728,000 after buying an additional 321,644 shares in the last quarter. Finally, Anomaly Capital Management LP raised its stake in Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after buying an additional 299,148 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday. Roth Mkm reissued a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Macquarie dropped their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, DA Davidson restated a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $103.00.

Planet Fitness Price Performance

Shares of Planet Fitness stock traded down $3.37 on Friday, hitting $93.71. The company had a trading volume of 1,374,498 shares, compared to its average volume of 1,423,196. Planet Fitness, Inc. has a 52 week low of $59.16 and a 52 week high of $110.00. The company has a market cap of $7.93 billion, a PE ratio of 50.38, a PEG ratio of 2.45 and a beta of 1.33. The business has a 50-day simple moving average of $96.34 and a 200-day simple moving average of $97.53.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.03). The firm had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 EPS. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.