Nordea Investment Management AB decreased its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 234,560 shares of the company’s stock after selling 6,740 shares during the period. Nordea Investment Management AB owned about 0.26% of Planet Fitness worth $18,270,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of PLNT. PNC Financial Services Group Inc. grew its stake in Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after purchasing an additional 157 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after buying an additional 1,635 shares during the period. MetLife Investment Management LLC acquired a new stake in Planet Fitness in the first quarter valued at approximately $357,000. BlackRock Inc. lifted its stake in Planet Fitness by 34.8% in the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after acquiring an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in Planet Fitness during the 1st quarter worth approximately $919,000. Hedge funds and other institutional investors own 95.82% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on PLNT shares. Robert W. Baird decreased their price objective on shares of Planet Fitness from $105.00 to $95.00 in a research report on Friday, May 5th. StockNews.com began coverage on Planet Fitness in a research report on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler decreased their target price on Planet Fitness from $96.00 to $88.00 in a research note on Thursday, June 22nd. BMO Capital Markets dropped their price target on shares of Planet Fitness from $90.00 to $82.00 in a research note on Friday, May 5th. Finally, Royal Bank of Canada initiated coverage on shares of Planet Fitness in a report on Friday, May 19th. They issued an “outperform” rating and a $86.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $84.33.
Planet Fitness Trading Down 0.5 %
Planet Fitness stock opened at $67.44 on Friday. The stock has a 50 day moving average of $69.99 and a two-hundred day moving average of $75.93. Planet Fitness, Inc. has a twelve month low of $54.15 and a twelve month high of $85.90. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 53.95, a PEG ratio of 1.23 and a beta of 1.31.
Planet Fitness (NYSE:PLNT – Free Report) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). Planet Fitness had a negative return on equity of 73.81% and a net margin of 10.86%. The company had revenue of $222.23 million for the quarter, compared to analyst estimates of $238.30 million. During the same period in the prior year, the business earned $0.32 earnings per share. Planet Fitness’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities analysts predict that Planet Fitness, Inc. will post 2.16 earnings per share for the current year.
About Planet Fitness
(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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