Blair William & Co. IL Cuts Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Key Points

• Blair William & Co. IL reduced its stake in Planet Fitness, Inc. by 17.2% during the first quarter, selling 26,339 shares, and now holds approximately 0.15% of the company.
• Planet Fitness reported $0.59 earnings per share (EPS) for the last quarter, missing analysts' expectations, while its revenue increased by 11.6% compared to the previous year.
• Analysts have given Planet Fitness an average rating of "Moderate Buy" with a target price of $106.63, while also predicting a future EPS of 2.51 for the current year.

Blair William & Co. IL reduced its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 17.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,853 shares of the company's stock after selling 26,339 shares during the period. Blair William & Co. IL owned approximately 0.15% of Planet Fitness worth $12,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. lifted its position in Planet Fitness by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock worth $782,169,000 after acquiring an additional 2,570,826 shares during the period. Ninety One UK Ltd lifted its position in Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after purchasing an additional 806,023 shares during the period. Anomaly Capital Management LP boosted its holdings in Planet Fitness by 20.3% in the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after purchasing an additional 299,148 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Planet Fitness by 2.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,167,217 shares of the company's stock worth $115,407,000 after purchasing an additional 33,230 shares during the period. Finally, FMR LLC raised its stake in shares of Planet Fitness by 24.4% during the 4th quarter. FMR LLC now owns 989,642 shares of the company's stock valued at $97,846,000 after buying an additional 194,157 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLNT has been the topic of several analyst reports. Morgan Stanley raised their target price on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday. Macquarie reiterated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Guggenheim restated a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a research report on Monday, May 12th. Finally, Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, June 12th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Planet Fitness has an average rating of "Moderate Buy" and an average price target of $107.38.

Planet Fitness Stock Performance

Shares of PLNT traded down $0.78 during trading hours on Thursday, hitting $105.35. 2,520,527 shares of the stock were exchanged, compared to its average volume of 1,460,125. The stock's 50-day moving average price is $107.65 and its two-hundred day moving average price is $101.93. Planet Fitness, Inc. has a 12-month low of $76.15 and a 12-month high of $114.47. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 46.82, a price-to-earnings-growth ratio of 2.37 and a beta of 1.40.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business had revenue of $340.88 million during the quarter, compared to analysts' expectations of $329.59 million. During the same period in the prior year, the business earned $0.71 earnings per share. The company's quarterly revenue was up 13.3% compared to the same quarter last year. On average, research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current 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.