Twin Tree Management LP Sells 18,458 Shares of Planet Fitness, Inc. $PLNT

Key Points

• Twin Tree Management LP reduced its stake in Planet Fitness by 42.7%, retaining 24,806 shares after selling 18,458 shares during the quarter, with its holdings valued at $2,397,000.
• Other investors have also adjusted their positions, with Brooklyn Investment Group increasing its holdings by 57.8% and First Horizon Advisors Inc. by 187.6% in the same quarter, indicating growing interest in the company.
• Planet Fitness reported earnings of $0.86 per share, exceeding estimates, with revenues of $340.88 million, reflecting a 13.3% year-over-year increase.

Twin Tree Management LP lessened its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 42.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,806 shares of the company's stock after selling 18,458 shares during the period. Twin Tree Management LP's holdings in Planet Fitness were worth $2,397,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. KBC Group NV increased its stake in Planet Fitness by 13.7% in the first quarter. KBC Group NV now owns 3,503 shares of the company's stock valued at $338,000 after purchasing an additional 422 shares in the last quarter. GAMMA Investing LLC increased its stake in Planet Fitness by 7.4% in the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company's stock valued at $217,000 after purchasing an additional 155 shares in the last quarter. Bessemer Group Inc. increased its stake in Planet Fitness by 2.3% in the first quarter. Bessemer Group Inc. now owns 359,755 shares of the company's stock valued at $34,756,000 after purchasing an additional 8,025 shares in the last quarter. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 62,716 shares during the period. Finally, New York State Teachers Retirement System grew its position in shares of Planet Fitness by 70.6% in the 1st quarter. New York State Teachers Retirement System now owns 33,600 shares of the company's stock valued at $3,246,000 after purchasing an additional 13,900 shares during the period. Institutional investors own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note 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 note on Thursday, May 22nd. Macquarie reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $108.64.

Planet Fitness Price Performance

Shares of PLNT traded up $1.48 during mid-day trading on Friday, hitting $104.44. 1,003,553 shares of the company's stock were exchanged, compared to its average volume of 1,046,495. The company has a market cap of $8.80 billion, a PE ratio of 46.42, a P/E/G ratio of 2.29 and a beta of 1.37. Planet Fitness, Inc. has a 52 week low of $77.77 and a 52 week high of $114.47. The company has a 50-day simple moving average of $107.79 and a 200 day simple moving average of $101.95.

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

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.