Thematics Asset Management Trims Stock Position in 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 lessened its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 42.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,530 shares of the company's stock after selling 43,300 shares during the period. Thematics Asset Management owned approximately 0.07% of Planet Fitness worth $5,655,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in Planet Fitness by 57.8% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after purchasing an additional 118 shares during the period. First Horizon Advisors Inc. grew its position in Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after purchasing an additional 242 shares during the period. CoreCap Advisors LLC grew its position in Planet Fitness by 1,250.0% in the 4th 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 grew its position in Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after purchasing an additional 387 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Planet Fitness in the 4th quarter worth approximately $57,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Down 1.3%

Shares of PLNT traded down $1.37 during trading hours on Friday, reaching $105.43. 297,274 shares of the stock traded hands, compared to its average volume of 1,484,121. The company's 50-day moving average price is $108.31 and its two-hundred day moving average price is $101.89. The company has a market cap of $8.88 billion, a P/E ratio of 46.86, a price-to-earnings-growth ratio of 2.35 and a beta of 1.40. Planet Fitness, Inc. has a 52-week low of $77.77 and a 52-week high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its 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. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The firm had revenue of $340.88 million for the quarter, compared to analysts' expectations of $329.59 million. During the same period in the prior year, the company earned $0.71 EPS. The business's revenue was up 13.3% compared to the same quarter last year. On average, research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on PLNT. 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. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Morgan Stanley boosted their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Guggenheim reissued a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. Finally, Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 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 company. According to MarketBeat, Planet Fitness has a consensus rating of "Moderate Buy" and an average target price of $107.38.

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.