Blair William & Co. IL Has $14.51 Million Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Blair William & Co. IL cut its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 17.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 197,220 shares of the company’s stock after selling 41,572 shares during the quarter. Blair William & Co. IL owned 0.22% of Planet Fitness worth $14,513,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Planet Fitness by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after buying an additional 97,823 shares during the period. Cadian Capital Management LP lifted its stake in Planet Fitness by 9.6% in the fourth quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock valued at $323,417,000 after buying an additional 386,861 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Planet Fitness by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 2,592,136 shares of the company’s stock valued at $162,345,000 after acquiring an additional 66,139 shares in the last quarter. Dorsal Capital Management LP bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $182,500,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Planet Fitness during the second quarter valued at approximately $166,978,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.94% of the company’s stock.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $84.07 on Friday. The company has a market capitalization of $7.41 billion, a PE ratio of 48.32, a price-to-earnings-growth ratio of 2.75 and a beta of 1.49. The business has a fifty day moving average price of $78.46 and a two-hundred day moving average price of $69.66. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $84.93.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Bank of America boosted their price objective on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 6th. DA Davidson restated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $92.00 in a report on Monday, June 24th. Finally, Robert W. Baird restated an “outperform” rating and set a $92.00 price objective on shares of Planet Fitness in a report on Monday, August 26th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.93.

Planet Fitness Company 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.