Harvest Fund Management Co. Ltd Has $146,000 Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Key Points

• Harvest Fund Management Co. Ltd significantly reduced its stock position in Planet Fitness, Inc. by **82.3%**, now holding 1,512 shares valued at approximately **$146,000**.
• Multiple institutional investors have adjusted their positions, including Fiera Capital Corp, which purchased around **$31.3 million** worth of Planet Fitness shares in the first quarter.
• Analysts have mixed ratings on Planet Fitness, with a median price target of **$106.63** and **twelve buy ratings**, indicating overall positive confidence in the company's future performance.

Harvest Fund Management Co. Ltd cut its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 82.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,512 shares of the company's stock after selling 7,020 shares during the period. Harvest Fund Management Co. Ltd's holdings in Planet Fitness were worth $146,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in PLNT. First Horizon Advisors Inc. boosted its holdings 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 purchasing an additional 242 shares in the last quarter. CoreCap Advisors LLC raised its position in Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after purchasing an additional 450 shares during the last quarter. Farther Finance Advisors LLC raised its position in Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after purchasing an additional 387 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Planet Fitness during the 4th quarter valued at $57,000. Finally, Friedenthal Financial bought a new stake in shares of Planet Fitness during the 1st quarter valued at $76,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Performance

NYSE PLNT traded down $1.66 on Friday, reaching $107.53. The company had a trading volume of 1,159,092 shares, compared to its average volume of 1,103,311. The firm has a market capitalization of $9.05 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 2.41 and a beta of 1.40. Planet Fitness, Inc. has a 1-year low of $68.75 and a 1-year high of $114.47. The company's fifty day moving average is $107.30 and its 200-day moving average is $101.83.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The company had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. During the same period in the previous year, the company posted $0.53 earnings per share. Planet Fitness's revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PLNT. Guggenheim restated a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. Macquarie restated a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Morgan Stanley upped 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. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $106.63.

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.