Thematics Asset Management Sells 43,300 Shares of Planet Fitness, Inc. $PLNT

Key Points

• Thematics Asset Management reduced its stake in Planet Fitness by 42.5%, now owning approximately 0.07% of the company, valued at $5.65 million.
• Planet Fitness reported an EPS of $0.86 for the recent quarter, surpassing analysts' estimates of $0.79, and its revenue grew 13.3% year-over-year.
• Research analysts maintain a generally positive outlook on Planet Fitness, with a consensus rating of "Moderate Buy" and a target price around $107.38.

Thematics Asset Management lowered its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 42.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,530 shares of the company's stock after selling 43,300 shares during the quarter. Thematics Asset Management owned 0.07% of Planet Fitness worth $5,655,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its position in Planet Fitness by 6.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock valued at $812,213,000 after purchasing an additional 496,047 shares during the period. Vanguard Group Inc. raised its stake in shares of Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after buying an additional 62,716 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Planet Fitness by 62.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock worth $317,810,000 after purchasing an additional 1,268,262 shares during the period. Invesco Ltd. raised its position in shares of Planet Fitness by 358.0% during the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock worth $213,618,000 after purchasing an additional 1,728,407 shares during the period. Finally, Ninety One UK Ltd grew its holdings in shares of Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after buying an additional 806,023 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Up 0.2%

Shares of Planet Fitness stock traded up $0.25 during trading on Wednesday, reaching $105.78. The stock had a trading volume of 1,179,662 shares, compared to its average volume of 1,492,326. Planet Fitness, Inc. has a 52 week low of $77.77 and a 52 week high of $114.47. The company has a market capitalization of $8.91 billion, a price-to-earnings ratio of 47.01, a P/E/G ratio of 2.35 and a beta of 1.40. The stock has a fifty day moving average price of $108.33 and a two-hundred day moving average price of $101.89.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. The business had revenue of $340.88 million during the quarter, compared to analysts' expectations of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The firm's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analysts Set New Price Targets

PLNT has been the topic of a number of recent research reports. Macquarie restated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Guggenheim reaffirmed a "buy" rating and set a $110.00 price target on shares of Planet Fitness in a report on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.38.

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.