Bares Capital Management Inc. trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 6.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,926,857 shares of the company’s stock after selling 136,295 shares during the period. Planet Fitness accounts for about 5.3% of Bares Capital Management Inc.’s holdings, making the stock its 8th biggest holding. Bares Capital Management Inc. owned approximately 2.16% of Planet Fitness worth $149,659,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Planet Fitness in the 4th quarter valued at about $589,000. Raymond James & Associates lifted its position in shares of Planet Fitness by 28.0% during the first quarter. Raymond James & Associates now owns 130,196 shares of the company’s stock worth $10,112,000 after purchasing an additional 28,501 shares during the last quarter. UBS Group AG lifted its position in shares of Planet Fitness by 35.1% during the fourth quarter. UBS Group AG now owns 68,475 shares of the company’s stock worth $5,396,000 after purchasing an additional 17,772 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Planet Fitness by 1.2% during the first quarter. CIBC Private Wealth Group LLC now owns 243,680 shares of the company’s stock worth $14,194,000 after purchasing an additional 2,778 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in shares of Planet Fitness by 4.6% during the first quarter. Blair William & Co. IL now owns 620,226 shares of the company’s stock worth $48,173,000 after purchasing an additional 27,217 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Royal Bank of Canada reduced their price target on shares of Planet Fitness from $86.00 to $78.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. DA Davidson dropped their price objective on shares of Planet Fitness from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, August 4th. Robert W. Baird dropped their price objective on shares of Planet Fitness from $95.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. TD Cowen dropped their price objective on shares of Planet Fitness from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 8th. Finally, Morgan Stanley dropped their price objective on shares of Planet Fitness from $88.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.00.
Get Our Latest Stock Analysis on PLNT
Planet Fitness Price Performance
NYSE PLNT opened at $58.31 on Tuesday. Planet Fitness, Inc. has a 12 month low of $54.15 and a 12 month high of $85.90. The firm has a market capitalization of $5.14 billion, a PE ratio of 39.67, a P/E/G ratio of 0.92 and a beta of 1.30. The company’s 50 day simple moving average is $63.59 and its 200 day simple moving average is $69.85.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.11. Planet Fitness had a net margin of 12.03% and a negative return on equity of 86.09%. The business had revenue of $286.50 million for the quarter, compared to analyst estimates of $251.99 million. During the same quarter last year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was up 27.7% on a year-over-year basis. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.18 earnings per share for the current fiscal year.
About Planet Fitness
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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