Metavasi Capital LP Has $4.10 Million Position in Planet Fitness, Inc. $PLNT

Key Points

• Metavasi Capital LP reduced its stake in Planet Fitness by 10.5%, now owning approximately 42,470 shares valued at around $4.1 million, making it the 15th largest position in its portfolio.
• Institutional investors hold 95.53% of Planet Fitness stock, with notable increases in stakes from KBC Group NV by 13.7% and New York State Teachers Retirement System by 70.6%.
• Planet Fitness reported an EPS of $0.86 for the last quarter, exceeding expectations and a 13.3% revenue growth year-over-year, amounting to $340.88 million.

Metavasi Capital LP decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,470 shares of the company's stock after selling 5,000 shares during the period. Planet Fitness comprises about 2.6% of Metavasi Capital LP's portfolio, making the stock its 15th largest holding. Metavasi Capital LP owned approximately 0.05% of Planet Fitness worth $4,103,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its stake in Planet Fitness by 6.3% during the first 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 last quarter. Vanguard Group Inc. grew its position in Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock valued at $782,394,000 after buying an additional 62,716 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock valued at $317,810,000 after buying an additional 1,268,262 shares in the last quarter. Invesco Ltd. grew its position in Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock valued at $213,618,000 after buying an additional 1,728,407 shares in the last quarter. Finally, Ninety One UK Ltd grew its position in Planet Fitness by 61.1% in the 1st 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. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded up $1.48 during mid-day trading on Friday, reaching $104.44. The company had a trading volume of 1,003,553 shares, compared to its average volume of 1,046,495. The stock has a fifty day moving average of $107.79 and a two-hundred day moving average of $101.95. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 46.42, a PEG ratio of 2.29 and a beta of 1.37. Planet Fitness, Inc. has a 12-month low of $77.77 and a 12-month high of $114.47.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PLNT shares. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Morgan Stanley upped their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Macquarie reaffirmed a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Guggenheim reaffirmed a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $108.64.

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.