Greenvale Capital LLP Has $118.64 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Greenvale Capital LLP lessened its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 36.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,200,000 shares of the company's stock after selling 700,000 shares during the period. Planet Fitness accounts for 8.8% of Greenvale Capital LLP's portfolio, making the stock its 4th biggest holding. Greenvale Capital LLP owned about 1.42% of Planet Fitness worth $118,644,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Fred Alger Management LLC boosted its position in shares of Planet Fitness by 18.9% during the 4th quarter. Fred Alger Management LLC now owns 438,176 shares of the company's stock valued at $43,322,000 after purchasing an additional 69,786 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Planet Fitness by 8.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 587,140 shares of the company's stock valued at $58,050,000 after purchasing an additional 43,587 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Planet Fitness by 1,250.0% during the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after buying an additional 450 shares in the last quarter. Bridgefront Capital LLC grew its position in Planet Fitness by 12.2% in the fourth quarter. Bridgefront Capital LLC now owns 15,444 shares of the company's stock worth $1,527,000 after buying an additional 1,680 shares during the last quarter. Finally, BNP Paribas bought a new position in shares of Planet Fitness in the fourth quarter valued at $1,299,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PLNT. BMO Capital Markets increased their target price on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. DA Davidson reissued a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 price objective on the stock. Finally, Stifel Nicolaus dropped their price target on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $103.00.

Planet Fitness Stock Down 0.1%

PLNT traded down $0.05 during midday trading on Thursday, hitting $97.92. 649,191 shares of the company were exchanged, compared to its average volume of 1,407,358. The firm has a market capitalization of $8.29 billion, a P/E ratio of 52.56, a P/E/G ratio of 2.45 and a beta of 1.33. The firm's 50 day moving average price is $96.27 and its 200-day moving average price is $97.94. Planet Fitness, Inc. has a 1-year low of $60.56 and a 1-year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The firm had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal 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.