Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,138 shares of the company's stock after selling 11,065 shares during the period. Legal & General Group Plc owned approximately 0.16% of Planet Fitness worth $12,966,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PLNT. Ninety One UK Ltd purchased a new stake in Planet Fitness during the 4th quarter worth $130,376,000. Norges Bank acquired a new stake in shares of Planet Fitness during the fourth quarter valued at about $100,009,000. Invesco Ltd. increased its position in shares of Planet Fitness by 199.7% during the fourth quarter. Invesco Ltd. now owns 482,732 shares of the company's stock worth $47,728,000 after acquiring an additional 321,644 shares during the last quarter. WCM Investment Management LLC purchased a new stake in shares of Planet Fitness during the fourth quarter worth about $22,289,000. Finally, FMR LLC lifted its stake in shares of Planet Fitness by 24.4% in the fourth quarter. FMR LLC now owns 989,642 shares of the company's stock worth $97,846,000 after acquiring an additional 194,157 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PLNT shares. Guggenheim lifted their price objective on Planet Fitness from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, April 14th. BMO Capital Markets upped their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Stifel Nicolaus cut their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Finally, DA Davidson reiterated a "neutral" rating and issued a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $101.72.

Planet Fitness Stock Performance

Shares of PLNT traded down $0.57 during midday trading on Friday, hitting $93.91. 1,037,277 shares of the stock traded hands, compared to its average volume of 1,436,545. The business's 50 day moving average price is $96.46 and its two-hundred day moving average price is $96.02. The firm has a market capitalization of $7.95 billion, a PE ratio of 50.49, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness's revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

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.