Charles Schwab Investment Management Inc. Sells 21,664 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Charles Schwab Investment Management Inc. decreased its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 906,175 shares of the company's stock after selling 21,664 shares during the period. Charles Schwab Investment Management Inc. owned 1.07% of Planet Fitness worth $87,546,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. First Horizon Advisors Inc. grew its stake in Planet Fitness by 187.6% during the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after acquiring an additional 242 shares in the last quarter. CoreCap Advisors LLC lifted its position in Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Planet Fitness during the fourth quarter valued at approximately $57,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Planet Fitness in the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Price Performance

PLNT traded up $2.71 during trading on Friday, reaching $107.55. 1,014,645 shares of the stock traded hands, compared to its average volume of 1,500,286. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 47.80, a price-to-earnings-growth ratio of 2.39 and a beta of 1.40. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $114.47. The stock's 50-day simple moving average is $107.83 and its two-hundred day simple moving average is $101.91.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. The business had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%. The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. Research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on PLNT. Morgan Stanley boosted their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, June 12th. Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Macquarie reaffirmed a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of "Moderate Buy" and an average target price of $107.38.

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.