Osborne Partners Capital Management LLC grew its stake in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,553 shares of the company’s stock after acquiring an additional 4,059 shares during the quarter. Osborne Partners Capital Management LLC owned 0.14% of Planet Fitness worth $8,265,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Golden State Equity Partners increased its stake in shares of Planet Fitness by 33.3% in the 2nd quarter. Golden State Equity Partners now owns 4,000 shares of the company’s stock valued at $270,000 after acquiring an additional 1,000 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Planet Fitness by 30.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 29,823 shares of the company’s stock worth $2,011,000 after purchasing an additional 6,962 shares in the last quarter. Diversified Trust Co increased its stake in Planet Fitness by 65.7% during the 2nd quarter. Diversified Trust Co now owns 15,377 shares of the company’s stock worth $1,037,000 after purchasing an additional 6,098 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Planet Fitness during the 2nd quarter worth approximately $1,673,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Planet Fitness by 23.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 933,357 shares of the company’s stock worth $62,946,000 after purchasing an additional 176,222 shares in the last quarter. 95.53% of the stock is owned by institutional investors.
Planet Fitness Trading Up 4.7 %
PLNT stock traded up $2.23 during trading hours on Friday, hitting $49.18. 4,534,844 shares of the stock were exchanged, compared to its average volume of 2,674,850. The firm has a market capitalization of $4.33 billion, a P/E ratio of 33.46, a P/E/G ratio of 0.77 and a beta of 1.30. The company has a 50-day simple moving average of $58.43 and a two-hundred day simple moving average of $67.00. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $85.90.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.11. The firm had revenue of $286.50 million for the quarter, compared to analysts’ expectations of $251.99 million. Planet Fitness had a negative return on equity of 86.09% and a net margin of 12.03%. The company’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.18 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Jefferies Financial Group cut Planet Fitness from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $56.00 in a research note on Monday, September 18th. Guggenheim lowered their target price on Planet Fitness from $80.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, September 18th. Stifel Nicolaus lowered their target price on Planet Fitness from $75.00 to $65.00 in a research note on Monday, September 18th. BNP Paribas cut Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 target price for the company. in a research note on Friday, June 23rd. Finally, Robert W. Baird decreased their price target on shares of Planet Fitness from $87.00 to $65.00 in a research note on Monday, September 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.65.
Get Our Latest Analysis on Planet Fitness
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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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