Impax Asset Management Group plc Sells 30,757 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Impax Asset Management Group plc cut its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,800 shares of the company's stock after selling 30,757 shares during the quarter. Impax Asset Management Group plc owned 0.15% of Planet Fitness worth $9,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP grew its position in Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company's stock valued at $26,000 after buying an additional 255 shares during the period. International Assets Investment Management LLC bought a new stake in Planet Fitness during the third quarter valued at approximately $27,000. Rockefeller Capital Management L.P. grew its position in Planet Fitness by 93.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company's stock valued at $35,000 after buying an additional 220 shares during the period. Quarry LP bought a new stake in Planet Fitness during the first quarter valued at approximately $38,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness during the fourth quarter valued at approximately $47,000. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLNT. Royal Bank of Canada upped their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 5th. Morgan Stanley reiterated an "overweight" rating and issued a $79.00 price target on shares of Planet Fitness in a research report on Monday, April 1st. Piper Sandler upped their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an "overweight" rating in a research report on Thursday, January 11th. StockNews.com upgraded shares of Planet Fitness from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Stifel Nicolaus lowered their target price on shares of Planet Fitness from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.00.

Planet Fitness Stock Down 1.6 %

Planet Fitness stock traded down $1.02 during mid-day trading on Thursday, reaching $62.60. 1,455,444 shares of the company's stock traded hands, compared to its average volume of 1,620,875. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 1.27 and a beta of 1.39. The stock has a 50 day moving average of $63.99 and a two-hundred day moving average of $63.69. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $84.48.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. Planet Fitness's revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.48 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.