William Blair Investment Management LLC Sells 104,743 Shares of Planet Fitness, Inc. $PLNT

Key Points

• William Blair Investment Management LLC reduced its holdings in Planet Fitness by 5.7%, selling 104,743 shares, and now owns approximately 1.74 million shares valued at $189.6 million.
• Planet Fitness reported earnings of $0.86 per share for the last quarter, exceeding analyst expectations, with revenues of $340.88 million, up 13.3% year-over-year.
• Several institutional investors have increased their stakes in Planet Fitness, with institutional ownership now at 95.53% of the company's stock.

William Blair Investment Management LLC cut its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,738,944 shares of the company's stock after selling 104,743 shares during the quarter. William Blair Investment Management LLC owned about 2.07% of Planet Fitness worth $189,632,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PLNT. Farther Finance Advisors LLC lifted its holdings in Planet Fitness by 291.0% in the first 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. GAMMA Investing LLC raised its position in shares of Planet Fitness by 7.4% in the 1st quarter. GAMMA Investing LLC now owns 2,245 shares of the company's stock worth $217,000 after acquiring an additional 155 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Planet Fitness by 15.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,095 shares of the company's stock valued at $299,000 after purchasing an additional 418 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Planet Fitness during the 1st quarter valued at about $206,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Planet Fitness by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 9,865 shares of the company's stock valued at $953,000 after purchasing an additional 265 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

PLNT stock opened at $94.20 on Friday. The company has a market capitalization of $7.93 billion, a P/E ratio of 41.87, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. Planet Fitness, Inc. has a 52-week low of $77.77 and a 52-week high of $114.47. The business has a 50-day simple moving average of $102.00 and a two-hundred day simple moving average of $102.59.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLNT shares. Jefferies Financial Group reiterated a "buy" rating on shares of Planet Fitness in a report on Wednesday, September 24th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $126.00 price objective on shares of Planet Fitness in a research report on Monday, September 15th. UBS Group initiated coverage on shares of Planet Fitness in a research note on Friday. They issued a "buy" rating and a $125.00 price objective for the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Planet Fitness in a research note on Wednesday, October 8th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $112.50.

Planet Fitness Company 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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