Whittier Trust Co. Buys 2,394 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Whittier Trust Co. boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 2.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,355 shares of the company's stock after acquiring an additional 2,394 shares during the quarter. Whittier Trust Co. owned approximately 0.12% of Planet Fitness worth $10,082,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its position in Planet Fitness by 187.6% during the 1st 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 lifted its position in Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after purchasing an additional 450 shares during the period. Farther Finance Advisors LLC lifted its position in 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 purchasing an additional 387 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Planet Fitness by 1,139.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after purchasing an additional 490 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Planet Fitness during the 4th quarter valued at about $57,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Price Performance

Shares of PLNT traded up $2.42 during mid-day trading on Friday, hitting $112.56. 1,289,528 shares of the company's stock were exchanged, compared to its average volume of 1,382,215. The company has a market cap of $9.48 billion, a PE ratio of 53.09, a P/E/G ratio of 2.44 and a beta of 1.33. Planet Fitness, Inc. has a 52 week low of $68.75 and a 52 week high of $113.15. The company has a 50-day simple moving average of $105.15 and a 200 day simple moving average of $101.15.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.03). The business had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. Planet Fitness's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. On average, analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLNT. Guggenheim reiterated a "buy" rating and issued a $110.00 price target on shares of Planet Fitness in a research report on Monday, May 12th. Macquarie reiterated a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a research report on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. BMO Capital Markets increased their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Finally, Morgan Stanley increased their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and an average price target of $106.63.

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.