Planet Fitness, Inc. (NYSE:PLNT) Stock Holdings Cut by Greenvale Capital LLP

Greenvale Capital LLP lowered its stake in Planet Fitness, Inc. (NYSE:PLNT) by 36.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,200,000 shares of the company’s stock after selling 700,000 shares during the quarter. Planet Fitness comprises about 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 and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of Planet Fitness in the 4th quarter worth approximately $39,000. UMB Bank n.a. lifted its stake in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of 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 during the period. Proficio Capital Partners LLC acquired a new stake in shares of Planet Fitness in the fourth quarter valued at $51,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after buying an additional 490 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of research analyst reports. Roth Mkm restated a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Macquarie lowered their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Morgan Stanley upped their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Guggenheim upped their price objective on Planet Fitness from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.00.

Planet Fitness Stock Down 3.6 %

Shares of Planet Fitness stock opened at $93.54 on Friday. Planet Fitness, Inc. has a 52 week low of $60.56 and a 52 week high of $110.00. The firm’s 50 day moving average is $96.30 and its two-hundred day moving average is $97.62. The firm has a market capitalization of $7.92 billion, a P/E ratio of 50.29, a P/E/G ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. Planet Fitness’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal 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.