Diversified Trust Co Lowers Position in Planet Fitness, Inc. (NYSE:PLNT)

Diversified Trust Co decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 47.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,467 shares of the company's stock after selling 7,674 shares during the period. Diversified Trust Co's holdings in Planet Fitness were worth $818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew 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 valued at $782,169,000 after purchasing an additional 2,570,826 shares during the last quarter. Norges Bank purchased a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $100,009,000. Sequoia Financial Advisors LLC bought a new stake in shares of Planet Fitness during the first quarter valued at approximately $54,384,000. Nomura Holdings Inc. raised its holdings in Planet Fitness by 103.4% in the 4th quarter. Nomura Holdings Inc. now owns 11,170 shares of the company's stock worth $1,104,000 after acquiring an additional 340,370 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Planet Fitness by 199.7% in the 4th quarter. Invesco Ltd. now owns 482,732 shares of the company's stock valued at $47,728,000 after acquiring an additional 321,644 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, May 22nd. BMO Capital Markets boosted their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Macquarie restated a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Morgan Stanley lifted their price target 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. Finally, Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $106.63.

Planet Fitness Trading Up 0.4%

Planet Fitness stock traded up $0.47 during midday trading on Monday, hitting $109.17. The stock had a trading volume of 1,628,435 shares, compared to its average volume of 1,389,089. Planet Fitness, Inc. has a 52-week low of $68.75 and a 52-week high of $113.28. The company has a market capitalization of $9.19 billion, a PE ratio of 51.50, a P/E/G ratio of 2.41 and a beta of 1.33. The firm's fifty day moving average is $101.56 and its two-hundred day moving average is $100.26.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The firm had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. As a group, 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.