William Blair Investment Management LLC Has $200.04 Million Holdings in Planet Fitness, Inc. (NYSE:PLNT)

William Blair Investment Management LLC lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,023,220 shares of the company’s stock after selling 220,762 shares during the period. William Blair Investment Management LLC’s holdings in Planet Fitness were worth $200,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ninety One UK Ltd bought a new stake in Planet Fitness during the 4th quarter worth approximately $130,376,000. FMR LLC lifted its stake in shares of Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares during the period. WCM Investment Management LLC acquired a new stake in Planet Fitness during the 4th quarter worth $22,289,000. Artemis Investment Management LLP acquired a new stake in Planet Fitness during the 4th quarter worth $18,767,000. Finally, Monimus Capital Management LP acquired a new stake in Planet Fitness during the 4th quarter worth $6,698,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $95.56 on Monday. The firm has a fifty day moving average price of $101.07 and a 200 day moving average price of $93.50. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The firm has a market cap of $8.09 billion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The firm had revenue of $340.50 million during 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%. The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business earned $0.60 EPS. As a group, research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday, February 28th. Roth Mkm reiterated a “buy” rating and issued a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Canaccord Genuity Group began coverage on shares of Planet Fitness in a research report on Thursday. They set a “buy” rating and a $120.00 price objective for the company. Macquarie dropped their price target on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Finally, Guggenheim reiterated a “buy” rating and issued a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $100.17.

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.