Planet Fitness, Inc. $PLNT Shares Sold by State of Wyoming

Key Points

• The State of Wyoming significantly reduced its holdings in Planet Fitness, Inc. by 40.8% in the first quarter, owning 4,395 shares valued at $425,000 after selling 3,028 shares.
• Planet Fitness reported $0.86 earnings per share for the last quarter, exceeding analysts’ expectations, and showed a 13.3% revenue increase compared to the previous year.
• Research analysts have set varied price targets for Planet Fitness shares, with the average target price being $107.38, reflecting an overall rating of "Moderate Buy."

State of Wyoming lowered its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 40.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,395 shares of the company's stock after selling 3,028 shares during the period. State of Wyoming's holdings in Planet Fitness were worth $425,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Brooklyn Investment Group lifted its position in shares of Planet Fitness by 57.8% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after buying an additional 118 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after acquiring an additional 242 shares during the last quarter. CoreCap Advisors LLC boosted its stake in Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after acquiring an additional 450 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Planet Fitness by 291.0% during the first 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 last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Planet Fitness during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Down 2.0%

Shares of NYSE:PLNT opened at $104.66 on Friday. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 2.33 and a beta of 1.40. The firm's 50-day simple moving average is $108.26 and its 200-day simple moving average is $101.90. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week 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 for the quarter, beating analysts' consensus estimates of $0.79 by $0.07. The firm had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The company'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 business earned $0.71 earnings per share. On average, research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PLNT. Morgan Stanley increased their price objective on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Macquarie reiterated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. 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. Finally, Guggenheim reaffirmed a "buy" rating and issued a $110.00 target price 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 issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average 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.

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