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Blair William & Co. IL Has $12.26 Million Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Planet Fitness logo with Consumer Discretionary background

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

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC increased its stake in Planet Fitness by 12.1% in the fourth quarter. LPL Financial LLC now owns 44,662 shares of the company's stock valued at $4,546,000 after acquiring an additional 4,829 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Planet Fitness during the fourth quarter worth $235,000. Trexquant Investment LP bought a new stake in shares of Planet Fitness during the fourth quarter worth $571,000. ExodusPoint Capital Management LP grew its stake in shares of Planet Fitness by 211.3% during the fourth quarter. ExodusPoint Capital Management LP now owns 44,330 shares of the company's stock worth $4,383,000 after buying an additional 30,091 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Planet Fitness by 111.4% during the fourth quarter. Wells Fargo & Company MN now owns 183,784 shares of the company's stock worth $18,171,000 after buying an additional 96,841 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PLNT shares. Morgan Stanley boosted their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Guggenheim reaffirmed a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. Stifel Nicolaus set a $120.00 target price on shares of Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday. Finally, Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, June 12th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average target price of $107.38.

Read Our Latest Stock Report on Planet Fitness

Planet Fitness Stock Up 1.3%

PLNT traded up $1.37 during trading on Friday, reaching $106.75. 1,561,159 shares of the stock traded hands, compared to its average volume of 1,518,381. The stock has a market capitalization of $8.99 billion, a PE ratio of 47.45, a P/E/G ratio of 2.35 and a beta of 1.40. The stock's 50-day moving average is $107.73 and its 200 day moving average is $101.92. Planet Fitness, Inc. has a 12 month low of $77.36 and a 12 month high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly 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. The business had revenue of $340.88 million for the quarter, compared to analysts' expectations of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 earnings per share. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

About Planet Fitness

(Free Report)

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.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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