Vanguard Group Inc. Sells 119,928 Shares of Planet Fitness, Inc. $PLNT

Vanguard Group Inc. trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,111,608 shares of the company’s stock after selling 119,928 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Planet Fitness worth $841,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ninety One UK Ltd increased its position in Planet Fitness by 20.0% in the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock worth $359,308,000 after purchasing an additional 577,637 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Planet Fitness by 15.0% in the 2nd quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after buying an additional 332,362 shares during the last quarter. Dorsal Capital Management LP raised its position in shares of Planet Fitness by 7.6% during the 2nd quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock valued at $269,899,000 after buying an additional 175,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Planet Fitness by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,581,406 shares of the company’s stock valued at $172,479,000 after acquiring an additional 57,103 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Planet Fitness by 8.2% in the 2nd quarter. Franklin Resources Inc. now owns 1,559,976 shares of the company’s stock valued at $170,115,000 after acquiring an additional 117,989 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $90.63 on Monday. The stock has a 50 day moving average price of $99.76 and a 200 day moving average price of $101.60. Planet Fitness, Inc. has a 52-week low of $87.44 and a 52-week high of $114.47. The firm has a market capitalization of $7.55 billion, a P/E ratio of 36.99, a P/E/G ratio of 1.38 and a beta of 1.26.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PLNT shares. Canaccord Genuity Group boosted their price objective on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. Stifel Nicolaus increased their price target on Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 14th. JPMorgan Chase & Co. raised their price target on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Macquarie Infrastructure cut their price objective on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $122.27.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.