Cwm LLC Sells 282 Shares of Planet Fitness, Inc. $PLNT

Cwm LLC reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 15.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,581 shares of the company’s stock after selling 282 shares during the quarter. Cwm LLC’s holdings in Planet Fitness were worth $172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in shares of Planet Fitness by 358.0% during the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock worth $213,618,000 after purchasing an additional 1,728,407 shares during the period. Price T Rowe Associates Inc. MD grew its position in Planet Fitness by 62.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock worth $317,810,000 after buying an additional 1,268,262 shares in the last quarter. Ninety One UK Ltd grew its position in Planet Fitness by 61.1% during the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock worth $205,265,000 after buying an additional 806,023 shares in the last quarter. Junto Capital Management LP bought a new position in Planet Fitness during the first quarter valued at about $52,580,000. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Planet Fitness by 6.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock valued at $812,213,000 after acquiring an additional 496,047 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Trading Down 2.3%

Shares of NYSE PLNT opened at $91.49 on Thursday. Planet Fitness, Inc. has a 1 year low of $77.79 and a 1 year high of $114.47. The firm’s 50-day moving average is $100.20 and its 200-day moving average is $102.77. The firm has a market capitalization of $7.71 billion, a PE ratio of 40.66, a price-to-earnings-growth ratio of 2.15 and a beta of 1.38.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The business had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. During the same period in the prior year, the business posted $0.71 earnings per share. Planet Fitness’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Planet Fitness in a report on Wednesday, October 8th. Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Canaccord Genuity Group reissued a “buy” rating and issued a $126.00 price target on shares of Planet Fitness in a report on Monday, September 15th. UBS Group assumed coverage on shares of Planet Fitness in a report on Friday, October 17th. They set a “buy” rating and a $125.00 price objective for the company. Finally, Morgan Stanley lifted their target price on shares of Planet Fitness from $112.00 to $119.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average price target of $113.00.

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.