William Blair Investment Management LLC Sells 220,762 Shares of Planet Fitness, Inc. (NYSE:PLNT)

William Blair Investment Management LLC lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,023,220 shares of the company’s stock after selling 220,762 shares during the period. William Blair Investment Management LLC owned 2.39% of Planet Fitness worth $200,036,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC grew its position in Planet Fitness by 132.5% in the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after purchasing an additional 16,503 shares in the last quarter. AMJ Financial Wealth Management purchased a new stake in shares of Planet Fitness during the 4th quarter valued at $495,000. State Street Corp grew its holdings in shares of Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after purchasing an additional 37,236 shares during the last quarter. Nkcfo LLC bought a new position in shares of Planet Fitness during the 4th quarter valued at $1,088,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Planet Fitness in the 3rd quarter worth $604,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $95.56 on Monday. The firm has a market capitalization of $8.09 billion, a PE ratio of 51.38, a P/E/G ratio of 2.45 and a beta of 1.54. The business has a 50-day moving average of $101.07 and a two-hundred day moving average of $93.50. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $110.00.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Guggenheim reissued a “buy” rating and set a $105.00 price objective on shares of Planet Fitness in a research report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a research report on Monday, February 24th. Canaccord Genuity Group began coverage on shares of Planet Fitness in a research note on Thursday. They set a “buy” rating and a $120.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Piper Sandler boosted their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and an average target price of $100.17.

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.