Legato Capital Management LLC trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 27.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,125 shares of the company's stock after selling 3,130 shares during the quarter. Legato Capital Management LLC's holdings in Planet Fitness were worth $785,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Planet Fitness by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock valued at $794,496,000 after purchasing an additional 39,928 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Planet Fitness by 48.1% in 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 buying an additional 2,570,826 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Planet Fitness by 1.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock valued at $356,841,000 after acquiring an additional 36,803 shares during the period. Ninety One UK Ltd grew its position in shares of Planet Fitness by 61.1% in the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after acquiring an additional 806,023 shares during the period. Finally, Anomaly Capital Management LP boosted its holdings in shares of Planet Fitness by 20.3% during the 4th quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock worth $175,256,000 after buying an additional 299,148 shares during the period. 95.53% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently commented on PLNT. Guggenheim restated a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a research report on Monday, May 12th. BMO Capital Markets increased their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Morgan Stanley increased their target price 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. 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. Finally, Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and an average price target of $106.63.
Check Out Our Latest Stock Analysis on Planet Fitness
Planet Fitness Price Performance
Planet Fitness stock traded up $0.25 during mid-day trading on Friday, reaching $112.66. The stock had a trading volume of 765,107 shares, compared to its average volume of 1,231,750. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 53.14, a PEG ratio of 2.51 and a beta of 1.33. The company has a 50-day moving average price of $106.44 and a two-hundred day moving average price of $101.49. Planet Fitness, Inc. has a one year low of $68.75 and a one year high of $114.47.
Planet Fitness (NYSE:PLNT - Get Free Report) last issued 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 business had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. During the same period last year, the firm posted $0.53 EPS. Planet Fitness's quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.
About Planet Fitness
(
Free Report)
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.
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