Envestnet Asset Management Inc. Sells 58,455 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Envestnet Asset Management Inc. lessened its stake in shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) by 18.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,711 shares of the company’s stock after selling 58,455 shares during the period. Envestnet Asset Management Inc. owned about 0.29% of Planet Fitness worth $22,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PLNT. Artemis Investment Management LLP raised its stake in shares of Planet Fitness by 225.3% during the fourth quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock valued at $144,765,000 after acquiring an additional 1,108,100 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Planet Fitness by 79.2% during the fourth quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock valued at $174,825,000 after acquiring an additional 846,128 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Planet Fitness by 37.0% during the fourth quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock valued at $251,075,000 after acquiring an additional 748,189 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Planet Fitness by 278.5% during the fourth quarter. Victory Capital Management Inc. now owns 930,951 shares of the company’s stock valued at $84,325,000 after acquiring an additional 684,971 shares in the last quarter. Finally, Chicago Capital LLC raised its stake in shares of Planet Fitness by 298.8% during the first quarter. Chicago Capital LLC now owns 477,079 shares of the company’s stock valued at $40,304,000 after acquiring an additional 357,448 shares in the last quarter. Institutional investors own 93.87% of the company’s stock.

Planet Fitness Price Performance

Shares of PLNT stock opened at $79.00 on Wednesday. The business has a fifty day moving average of $71.42 and a 200 day moving average of $78.82. Planet Fitness, Inc. has a 1 year low of $61.11 and a 1 year high of $99.60. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 123.44, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17.

Planet Fitness (NYSE:PLNTGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $186.70 million for the quarter, compared to analyst estimates of $190.44 million. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The company’s revenue was up 66.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, equities research analysts expect that Planet Fitness, Inc. will post 1.55 earnings per share for the current year.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of recent research reports. Piper Sandler reduced their price objective on shares of Planet Fitness from $87.00 to $72.00 in a research note on Wednesday, May 11th. DA Davidson reduced their price objective on shares of Planet Fitness from $110.00 to $90.00 in a research note on Friday, May 13th. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a research note on Wednesday, May 11th. BMO Capital Markets reduced their price objective on shares of Planet Fitness from $96.00 to $88.00 in a research note on Wednesday, May 11th. Finally, Exane BNP Paribas raised shares of Planet Fitness from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 7th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $96.92.

Planet Fitness Profile

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Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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