Jennison Associates LLC purchased a new position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,661 shares of the company’s stock, valued at approximately $284,000.
A number of other hedge funds also recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its holdings in Planet Fitness by 93.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock valued at $35,000 after acquiring an additional 220 shares during the period. International Assets Investment Management LLC bought a new stake in Planet Fitness during the 1st quarter valued at $40,000. Harvest Fund Management Co. Ltd raised its holdings in Planet Fitness by 144.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 536 shares of the company’s stock valued at $42,000 after acquiring an additional 317 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Planet Fitness by 59.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $81,000 after acquiring an additional 384 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of Planet Fitness by 23.0% during the 1st quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock valued at $99,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 95.82% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Royal Bank of Canada assumed coverage on shares of Planet Fitness in a research report on Friday, May 19th. They set an “outperform” rating and a $86.00 price target for the company. Piper Sandler reduced their price target on shares of Planet Fitness from $96.00 to $88.00 in a research report on Thursday, June 22nd. BMO Capital Markets reduced their price target on shares of Planet Fitness from $90.00 to $82.00 in a research report on Friday, May 5th. DA Davidson reduced their price target on shares of Planet Fitness from $87.00 to $67.00 in a research report on Monday, May 8th. Finally, BNP Paribas lowered shares of Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 price target for the company. in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.33.
Planet Fitness Stock Down 1.0 %
NYSE PLNT opened at $68.41 on Tuesday. The company has a 50-day simple moving average of $67.76 and a two-hundred day simple moving average of $75.18. Planet Fitness, Inc. has a 12-month low of $54.15 and a 12-month high of $85.90. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 54.73, a PEG ratio of 1.26 and a beta of 1.31.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $222.23 million for the quarter, compared to the consensus estimate of $238.30 million. Planet Fitness had a net margin of 10.86% and a negative return on equity of 73.81%. The business’s revenue was up 19.0% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. Equities analysts expect that Planet Fitness, Inc. will post 2.16 earnings per share for the current fiscal year.
Planet Fitness 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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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