Osborne Partners Capital Management LLC Sells 4,210 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Osborne Partners Capital Management LLC lowered its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,606 shares of the company's stock after selling 4,210 shares during the quarter. Osborne Partners Capital Management LLC owned approximately 0.17% of Planet Fitness worth $13,874,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PLNT. CoreCap Advisors LLC increased its position in Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after purchasing an additional 450 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after buying an additional 490 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Planet Fitness during the fourth quarter worth approximately $57,000. Finally, Friedenthal Financial bought a new stake in shares of Planet Fitness during the first quarter worth approximately $76,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on PLNT. Roth Mkm reaffirmed a "buy" rating and set a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Stifel Nicolaus set a $120.00 price objective on Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. Macquarie restated a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Morgan Stanley boosted their target price on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $105.76.

Planet Fitness Stock Performance

NYSE PLNT opened at $107.60 on Friday. The stock has a market cap of $9.06 billion, a price-to-earnings ratio of 50.76, a PEG ratio of 2.39 and a beta of 1.33. The business has a 50 day simple moving average of $100.12 and a 200 day simple moving average of $99.94. Planet Fitness, Inc. has a 52-week low of $68.75 and a 52-week high of $110.00.

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

Planet Fitness Company 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.

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