Swiss National Bank Sells 3,200 Shares of Planet Fitness, Inc. $PLNT

Swiss National Bank cut its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,185 shares of the company's stock after selling 3,200 shares during the quarter. Swiss National Bank owned 0.19% of Planet Fitness worth $15,765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. increased its stake in shares of Planet Fitness by 187.6% in the 1st 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 increased its stake in shares of Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after acquiring an additional 450 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after acquiring an additional 387 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Planet Fitness in the 4th quarter valued at about $57,000. Finally, New Age Alpha Advisors LLC bought a new stake in Planet Fitness during the 1st quarter worth approximately $65,000. 95.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PLNT. Macquarie reissued a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley upped their price target on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $107.38.

Planet Fitness Stock Up 0.1%

Shares of NYSE PLNT traded up $0.15 during trading hours on Monday, hitting $107.67. The company had a trading volume of 363,079 shares, compared to its average volume of 1,510,276. The stock has a market capitalization of $9.07 billion, a P/E ratio of 47.97, a price-to-earnings-growth ratio of 2.39 and a beta of 1.40. Planet Fitness, Inc. has a 1-year low of $77.77 and a 1-year high of $114.47. The firm's 50 day moving average is $107.83 and its 200-day moving average is $101.86.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly 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 negative return on equity of 110.18% and a net margin of 15.11%. The business had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. During the same quarter last year, the firm posted $0.71 EPS. The company's quarterly revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts predict 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.