Twin Lakes Capital Management LLC Sells 225 Shares of Planet Fitness, Inc. $PLNT

Twin Lakes Capital Management LLC decreased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 9,643 shares of the company’s stock after selling 225 shares during the quarter. Twin Lakes Capital Management LLC’s holdings in Planet Fitness were worth $1,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Invesco Ltd. boosted its holdings in Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock valued at $213,618,000 after purchasing an additional 1,728,407 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock valued at $317,810,000 after purchasing an additional 1,268,262 shares during the period. Ninety One UK Ltd boosted its holdings in Planet Fitness by 61.1% in the 1st quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock valued at $205,265,000 after purchasing an additional 806,023 shares during the period. Junto Capital Management LP bought a new stake in Planet Fitness in the 1st quarter valued at about $52,580,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in Planet Fitness by 6.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock valued at $812,213,000 after purchasing an additional 496,047 shares during the period. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $98.47 on Monday. Planet Fitness, Inc. has a 52-week low of $77.79 and a 52-week high of $114.47. The firm has a 50 day moving average price of $101.03 and a two-hundred day moving average price of $102.81. The stock has a market cap of $8.29 billion, a P/E ratio of 43.76, a price-to-earnings-growth ratio of 2.19 and a beta of 1.38.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The firm had revenue of $340.88 million during the quarter, compared to analysts’ expectations of $329.59 million. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue was up 13.3% on a year-over-year basis. Analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLNT. Weiss Ratings reissued a “buy (b-)” rating on shares of Planet Fitness in a report on Saturday. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $126.00 price target on shares of Planet Fitness in a report on Monday, September 15th. Finally, UBS Group started coverage on shares of Planet Fitness in a report on Friday, October 17th. They set a “buy” rating and a $125.00 price target for the company. One equities 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. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $112.50.

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.