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 cut its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 40.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Brooklyn Investment Group grew its position in Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after acquiring an additional 118 shares during the period. First Horizon Advisors Inc. increased its stake in shares of 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 purchasing an additional 242 shares during the period. CoreCap Advisors LLC grew its position in Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Planet Fitness by 291.0% during the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after buying an additional 387 shares during the period. Finally, Lazard Asset Management LLC bought a new position in Planet Fitness in the 4th quarter worth $57,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PLNT shares. Guggenheim restated a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. Macquarie reissued a "neutral" rating and set a $95.00 price objective 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 stock a "buy" rating in a research note on Thursday, June 12th. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $108.07.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded up $0.85 during trading on Friday, reaching $103.81. The company had a trading volume of 318,946 shares, compared to its average volume of 1,475,279. Planet Fitness, Inc. has a 52 week low of $77.77 and a 52 week high of $114.47. The business's 50 day moving average price is $107.88 and its 200-day moving average price is $101.92. The stock has a market cap of $8.74 billion, a PE ratio of 46.14, a PEG ratio of 2.27 and a beta of 1.37.

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