HighTower Advisors LLC lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 6.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,159 shares of the company’s stock after selling 2,802 shares during the quarter. HighTower Advisors LLC’s holdings in Planet Fitness were worth $3,423,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of PLNT. Rockefeller Capital Management L.P. lifted its stake in Planet Fitness by 93.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock worth $35,000 after purchasing an additional 220 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Planet Fitness in the first quarter valued at about $40,000. Ameritas Advisory Services LLC acquired a new stake in Planet Fitness during the 1st quarter worth approximately $65,000. Signaturefd LLC grew its position in Planet Fitness by 16.0% in the 1st quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock valued at $84,000 after buying an additional 150 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Planet Fitness by 23.0% during the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after acquiring an additional 219 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on PLNT. Robert W. Baird lowered their price target on Planet Fitness from $95.00 to $87.00 and set an “outperform” rating for the company in a report on Friday, August 4th. BNP Paribas lowered Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 target price on the stock. in a research report on Friday, June 23rd. StockNews.com started coverage on Planet Fitness in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley reduced their target price on shares of Planet Fitness from $88.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, August 4th. Finally, DA Davidson reduced their target price on shares of Planet Fitness from $67.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $81.00.
Read Our Latest Stock Report on Planet Fitness
Planet Fitness Trading Down 1.2 %
PLNT opened at $59.43 on Friday. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 0.94 and a beta of 1.30. The stock has a fifty day moving average price of $63.95 and a 200 day moving average price of $70.27. Planet Fitness, Inc. has a 1 year low of $54.15 and a 1 year high of $85.90.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $0.65 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $286.50 million for the quarter, compared to the consensus estimate of $251.99 million. During the same period in the prior year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 27.7% on a year-over-year basis. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.18 earnings per share for the current fiscal year.
Planet Fitness Company Profile
(Free Report)
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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