Nkcfo LLC Has $193,000 Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Key Points

• Nkcfo LLC significantly reduced its stake in Planet Fitness by 81.8%, now owning only 2,000 shares after selling 9,000 shares in the first quarter.
• Despite a quarterly earnings miss with EPS of $0.59 against the consensus estimate of $0.62, Planet Fitness reported a revenue increase of 11.6% year-over-year.
• Analysts have mixed ratings for Planet Fitness, with three holding, twelve buying, and a consensus price target of $106.63.

Nkcfo LLC trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 81.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the company's stock after selling 9,000 shares during the period. Nkcfo LLC's holdings in Planet Fitness were worth $193,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its stake in shares of Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after purchasing an additional 242 shares in the last quarter. CoreCap Advisors LLC boosted its stake in Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after buying an additional 450 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Planet Fitness by 291.0% during the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after buying an additional 387 shares in the last quarter. Lazard Asset Management LLC bought a new position in Planet Fitness during the fourth quarter valued at about $57,000. Finally, Friedenthal Financial purchased a new stake in shares of Planet Fitness during the first quarter valued at $76,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded down $0.96 during trading hours on Thursday, reaching $110.07. 442,300 shares of the stock were exchanged, compared to its average volume of 1,491,826. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 51.93, a P/E/G ratio of 2.47 and a beta of 1.33. Planet Fitness, Inc. has a 52 week low of $68.75 and a 52 week high of $114.47. The stock's fifty day simple moving average is $107.17 and its 200 day simple moving average is $101.79.

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 firm had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. During the same quarter last year, the business posted $0.53 EPS. Planet Fitness's revenue for the quarter was up 11.6% on a year-over-year basis. Research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLNT. Morgan Stanley increased their price objective on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Macquarie reaffirmed a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a research report on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, June 12th. Guggenheim reaffirmed a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a research report on Monday, May 12th. Finally, Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, May 22nd. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.