Lisanti Capital Growth LLC Decreases Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Lisanti Capital Growth LLC decreased its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,520 shares of the company's stock after selling 18,150 shares during the period. Planet Fitness accounts for 1.4% of Lisanti Capital Growth LLC's investment portfolio, making the stock its 26th biggest holding. Lisanti Capital Growth LLC owned 0.06% of Planet Fitness worth $4,591,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PLNT. Corient Private Wealth LLC boosted its holdings in shares of Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock worth $457,000 after buying an additional 94 shares during the last quarter. GAMMA Investing LLC raised its position in Planet Fitness by 7.4% in the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company's stock worth $217,000 after acquiring an additional 155 shares during the period. Truist Financial Corp boosted its stake in Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company's stock valued at $1,249,000 after acquiring an additional 161 shares during the last quarter. ProShare Advisors LLC boosted its stake in Planet Fitness by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 3,939 shares of the company's stock valued at $389,000 after acquiring an additional 252 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Planet Fitness by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 9,865 shares of the company's stock valued at $953,000 after acquiring an additional 265 shares during the period. Institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLNT. Macquarie reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Guggenheim reaffirmed a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a research report on Monday, May 12th. Morgan Stanley lifted their price objective on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, BMO Capital Markets boosted their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.63.

Planet Fitness Trading Up 0.3%

Shares of PLNT traded up $0.30 during mid-day trading on Wednesday, reaching $106.84. 1,266,302 shares of the stock traded hands, compared to its average volume of 1,388,564. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 50.40, a price-to-earnings-growth ratio of 2.42 and a beta of 1.33. Planet Fitness, Inc. has a 1 year low of $68.75 and a 1 year high of $110.95. The firm has a fifty day moving average price of $102.11 and a 200 day moving average price of $100.36.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 88.70% and a net margin of 14.84%. The company had revenue of $276.66 million during the quarter, compared to the consensus estimate of $279.80 million. During the same quarter last year, the company posted $0.53 earnings per share. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.