Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 143,606 shares of the company's stock after selling 4,210 shares during the period. Osborne Partners Capital Management LLC owned about 0.17% of Planet Fitness worth $13,874,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PLNT. Friedenthal Financial purchased a new stake in shares of Planet Fitness during the 1st quarter valued at $76,000. State of Alaska Department of Revenue boosted its stake in shares of Planet Fitness by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 9,865 shares of the company's stock worth $953,000 after buying an additional 265 shares during the last quarter. Chicago Capital LLC grew its stake in shares of Planet Fitness by 35.3% during the 1st quarter. Chicago Capital LLC now owns 10,154 shares of the company's stock worth $981,000 after purchasing an additional 2,651 shares during the period. QRG Capital Management Inc. acquired a new stake in Planet Fitness during the first quarter valued at $206,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Planet Fitness by 15.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,095 shares of the company's stock worth $299,000 after acquiring an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PLNT. Roth Mkm reaffirmed a "buy" rating and issued a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Royal Bank Of Canada restated an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Macquarie reiterated a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a report on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 price objective on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.76.

Planet Fitness Trading Up 1.5%

PLNT stock traded up $1.62 during trading on Monday, hitting $108.86. 1,651,251 shares of the company's stock were exchanged, compared to its average volume of 1,383,891. The business has a 50-day moving average price of $100.54 and a two-hundred day moving average price of $100.06. The stock has a market capitalization of $9.16 billion, a price-to-earnings ratio of 51.35, a PEG ratio of 2.38 and a beta of 1.33. 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 posted its 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). The business had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. Planet Fitness's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. 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

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.