Planet Fitness, Inc. $PLNT Shares Sold by Triodos Investment Management BV

Key Points

• Triodos Investment Management BV reduced its stake in Planet Fitness by 12% during the second quarter, now holding approximately 256,000 shares valued at about $27.9 million.
• Planet Fitness reported $0.86 EPS for its latest quarter, exceeding analyst expectations, with revenue of $340.88 million, a 13.3% increase year-over-year.
• Currently, institutional investors and hedge funds own 95.53% of Planet Fitness's stock, indicating strong institutional support for the company.

Triodos Investment Management BV lowered its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 12.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 256,000 shares of the company's stock after selling 35,000 shares during the period. Planet Fitness makes up approximately 2.1% of Triodos Investment Management BV's portfolio, making the stock its 23rd largest position. Triodos Investment Management BV owned about 0.30% of Planet Fitness worth $27,917,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLNT. Game Plan Financial Advisors LLC acquired a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $25,000. Brooklyn Investment Group increased its holdings 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. increased its holdings in shares of Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after buying an additional 242 shares during the last quarter. Farther Finance Advisors LLC increased its holdings 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 worth $50,000 after buying an additional 387 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Planet Fitness during the 1st quarter worth approximately $65,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Down 1.8%

Shares of PLNT stock opened at $94.16 on Friday. Planet Fitness, Inc. has a 52 week low of $77.77 and a 52 week high of $114.47. The stock has a market capitalization of $7.93 billion, a PE ratio of 41.85, a P/E/G ratio of 2.13 and a beta of 1.38. The firm has a 50 day moving average of $103.68 and a two-hundred day moving average of $102.77.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 net margin of 15.11% and a negative return on equity of 110.18%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS. Analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PLNT. Canaccord Genuity Group restated a "buy" rating and set a $126.00 price target on shares of Planet Fitness in a report on Monday, September 15th. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Jefferies Financial Group reiterated a "buy" rating on shares of Planet Fitness in a report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Planet Fitness in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.54.

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.

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