Impax Asset Management Group plc Cuts Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Impax Asset Management Group plc cut its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,271 shares of the company's stock after selling 3,823 shares during the quarter. Impax Asset Management Group plc owned 0.16% of Planet Fitness worth $13,455,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in Planet Fitness by 187.6% in 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 during the last quarter. CoreCap Advisors LLC raised its position in shares of Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after acquiring an additional 450 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after acquiring an additional 387 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Planet Fitness by 1,139.5% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Planet Fitness during the fourth quarter worth about $57,000. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLNT. BMO Capital Markets raised their price objective on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. Morgan Stanley raised their price objective on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.63.

Planet Fitness Stock Performance

Planet Fitness stock traded down $0.57 during mid-day trading on Tuesday, reaching $106.33. The stock had a trading volume of 1,088,023 shares, compared to its average volume of 1,385,612. Planet Fitness, Inc. has a fifty-two week low of $68.75 and a fifty-two week high of $110.95. The stock's 50-day simple moving average is $103.19 and its 200-day simple moving average is $100.63. The firm has a market capitalization of $8.95 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 2.37 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.59 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 analyst estimates of $279.80 million. Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The company's revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. On average, research analysts forecast 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.