Swiss National Bank lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 11.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,085 shares of the company’s stock after selling 23,300 shares during the period. Swiss National Bank owned 0.20% of Planet Fitness worth $13,987,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLNT. BlackRock Inc. boosted its stake in Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after buying an additional 1,852,867 shares during the last quarter. Norges Bank purchased a new stake in Planet Fitness in the fourth quarter valued at $63,014,000. William Blair Investment Management LLC raised its position in Planet Fitness by 62.2% in the fourth quarter. William Blair Investment Management LLC now owns 1,880,809 shares of the company’s stock valued at $148,208,000 after purchasing an additional 720,961 shares during the period. Millennium Management LLC raised its position in Planet Fitness by 261.9% in the fourth quarter. Millennium Management LLC now owns 881,098 shares of the company’s stock valued at $69,431,000 after purchasing an additional 637,602 shares during the period. Finally, Eagle Asset Management Inc. raised its position in Planet Fitness by 36.1% in the fourth quarter. Eagle Asset Management Inc. now owns 2,017,874 shares of the company’s stock valued at $157,696,000 after purchasing an additional 534,869 shares during the period. Institutional investors and hedge funds own 95.82% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. TD Cowen reduced their target price on Planet Fitness from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 8th. VNET Group restated a “maintains” rating on shares of Planet Fitness in a research report on Friday, May 5th. StockNews.com assumed coverage on Planet Fitness in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Robert W. Baird reduced their target price on Planet Fitness from $95.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. Finally, DA Davidson cut their price objective on Planet Fitness from $67.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus price target of $81.29.
Get Our Latest Report on Planet Fitness
Planet Fitness Price Performance
PLNT opened at $60.24 on Thursday. Planet Fitness, Inc. has a 12 month low of $54.15 and a 12 month high of $85.90. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 40.98, a PEG ratio of 0.92 and a beta of 1.29. The business has a fifty day moving average price of $65.54 and a 200 day moving average price of $71.80.
Planet Fitness (NYSE:PLNT – Get Free Report) last released 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 negative return on equity of 86.09% and a net margin of 12.03%. The firm had revenue of $286.50 million during the quarter, compared to analysts’ expectations of $251.99 million. During the same period in the previous year, the firm posted $0.38 EPS. Planet Fitness’s revenue for the quarter was up 27.7% on a year-over-year basis. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.18 earnings per share for the current 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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