Blair William & Co. IL Sells 26,339 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Blair William & Co. IL lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 17.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 126,853 shares of the company’s stock after selling 26,339 shares during the quarter. Blair William & Co. IL owned approximately 0.15% of Planet Fitness worth $12,255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in shares of Planet Fitness by 187.6% in the first 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 stake in shares of Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after buying an additional 450 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock worth $50,000 after buying an additional 387 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Planet Fitness in the fourth quarter worth $57,000. Finally, Friedenthal Financial acquired a new stake in shares of Planet Fitness in the first quarter worth $76,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $110.37 on Tuesday. Planet Fitness, Inc. has a 52-week low of $68.75 and a 52-week high of $114.47. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 52.06, a P/E/G ratio of 2.41 and a beta of 1.40. The firm has a fifty day moving average of $107.40 and a 200-day moving average of $101.84.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The business had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PLNT. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, June 12th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Macquarie restated a “neutral” rating and issued a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Morgan Stanley boosted their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, Guggenheim reiterated a “buy” rating and set a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $106.63.

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.