Lbp Am Sa Lowers Stake in Planet Fitness, Inc. (NYSE:PLNT)

LBP AM SA decreased its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,945 shares of the company's stock after selling 17,141 shares during the period. LBP AM SA's holdings in Planet Fitness were worth $2,120,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PLNT. Renaissance Technologies LLC bought a new stake in shares of Planet Fitness during the fourth quarter worth $11,963,000. Freestone Grove Partners LP acquired a new stake in shares of Planet Fitness during the fourth quarter worth about $25,676,000. Jump Financial LLC bought a new stake in Planet Fitness during the 4th quarter worth approximately $965,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Planet Fitness during the fourth quarter worth $3,378,000. Finally, KBC Group NV boosted its holdings in Planet Fitness by 13.7% during the first quarter. KBC Group NV now owns 3,503 shares of the company's stock worth $338,000 after purchasing an additional 422 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Up 2.1%

Planet Fitness stock traded up $2.28 during midday trading on Friday, hitting $110.56. 1,022,504 shares of the stock were exchanged, compared to its average volume of 1,384,226. Planet Fitness, Inc. has a 52-week low of $68.75 and a 52-week high of $112.23. The business's 50-day moving average price is $103.67 and its 200-day moving average price is $100.72. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 41.01, a price-to-earnings-growth ratio of 2.40 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued 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). 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 for the quarter, compared to analysts' expectations of $279.80 million. During the same period last year, the company posted $0.53 EPS. The business's revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PLNT. 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. Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. 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 reiterated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. Finally, Morgan Stanley raised their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock 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 given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $106.63.

About Planet Fitness

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.