American Trust Trims Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

American Trust reduced its stake in Planet Fitness, Inc. (NYSE:PLNT) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,013 shares of the company’s stock after selling 273 shares during the period. American Trust’s holdings in Planet Fitness were worth $251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oak Thistle LLC purchased a new stake in Planet Fitness in the 4th quarter valued at about $389,000. Dimensional Fund Advisors LP boosted its holdings in Planet Fitness by 17.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock valued at $65,549,000 after purchasing an additional 133,541 shares in the last quarter. Broad Bay Capital Management LP boosted its holdings in Planet Fitness by 15.4% in the fourth quarter. Broad Bay Capital Management LP now owns 1,223,000 shares of the company’s stock valued at $89,279,000 after purchasing an additional 163,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 97,823 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Planet Fitness by 24.9% in the first quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock valued at $14,335,000 after buying an additional 45,623 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Trading Down 0.4 %

NYSE:PLNT traded down $0.27 during trading hours on Friday, hitting $72.40. The stock had a trading volume of 2,019,801 shares, compared to its average volume of 1,281,888. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $79.09. The business has a 50 day simple moving average of $71.80 and a two-hundred day simple moving average of $66.88. The company has a market cap of $6.38 billion, a PE ratio of 41.61, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. During the same quarter last year, the company earned $0.41 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PLNT. 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 research note on Monday, June 24th. Stifel Nicolaus cut Planet Fitness from a “buy” rating to a “hold” rating and cut their price target for the stock from $80.00 to $70.00 in a research note on Friday, May 10th. Royal Bank of Canada cut their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Raymond James upped their price objective on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Friday, May 10th. Finally, StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.64.

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.