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

William Blair Investment Management LLC trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,023,220 shares of the company's stock after selling 220,762 shares during the quarter. William Blair Investment Management LLC owned about 2.39% of Planet Fitness worth $200,036,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PLNT. Twin Tree Management LP lifted its holdings in shares of Planet Fitness by 413.5% during the fourth quarter. Twin Tree Management LP now owns 43,264 shares of the company's stock worth $4,278,000 after buying an additional 57,064 shares in the last quarter. Corient Private Wealth LLC raised its stake in Planet Fitness by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock worth $457,000 after acquiring an additional 94 shares in the last quarter. Natixis Advisors LLC boosted its position in Planet Fitness by 37.1% in the fourth quarter. Natixis Advisors LLC now owns 14,438 shares of the company's stock valued at $1,427,000 after buying an additional 3,909 shares in the last quarter. Monimus Capital Management LP bought a new stake in Planet Fitness during the 4th quarter worth $6,698,000. Finally, Hilton Capital Management LLC raised its stake in shares of Planet Fitness by 4.9% during the fourth quarter. Hilton Capital Management LLC now owns 21,798 shares of the company's stock valued at $2,155,000 after acquiring an additional 1,015 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently commented on PLNT shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Monday, February 24th. Roth Mkm reissued a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Piper Sandler raised their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Stifel Nicolaus decreased their price target on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Finally, Guggenheim reiterated a "buy" rating and issued a $105.00 target price on shares of Planet Fitness in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.17.

Planet Fitness Stock Performance

NYSE:PLNT traded down $0.02 during trading hours on Friday, reaching $100.31. The company's stock had a trading volume of 2,407,719 shares, compared to its average volume of 1,448,361. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 53.93, a PEG ratio of 2.45 and a beta of 1.54. The firm has a 50-day simple moving average of $101.00 and a 200-day simple moving average of $93.84. Planet Fitness, Inc. has a 1 year low of $57.16 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million during the quarter, compared to analysts' expectations of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Equities analysts anticipate 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.