Investment House LLC purchased a new position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 21,985 shares of the company’s stock, valued at approximately $1,708,000.
Several other institutional investors also recently modified their holdings of PLNT. PNC Financial Services Group Inc. grew its position 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 valued at $112,000 after purchasing an additional 157 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Planet Fitness by 801.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after purchasing an additional 1,635 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in Planet Fitness during the 1st quarter valued at about $357,000. BlackRock Inc. grew its position in Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after purchasing an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in Planet Fitness during the 1st quarter valued at about $919,000. 95.82% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts recently commented on the stock. Stifel Nicolaus increased their price objective on shares of Planet Fitness from $78.00 to $82.00 in a research report on Wednesday, June 14th. VNET Group reaffirmed a “maintains” rating on shares of Planet Fitness in a report on Friday, May 5th. StockNews.com began coverage on shares of Planet Fitness in a report on Thursday, May 18th. They set a “hold” rating on the stock. TD Cowen dropped their price target on shares of Planet Fitness from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Morgan Stanley dropped their price target 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. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $81.29.
View Our Latest Report on Planet Fitness
Planet Fitness Trading Down 1.2 %
NYSE PLNT traded down $0.75 on Friday, reaching $60.64. 1,187,696 shares of the stock were exchanged, compared to its average volume of 1,226,722. Planet Fitness, Inc. has a one year low of $54.15 and a one year high of $85.90. The firm has a market capitalization of $5.41 billion, a PE ratio of 41.76, a PEG ratio of 0.94 and a beta of 1.29. The company’s 50-day simple moving average is $66.97 and its two-hundred day simple moving average is $73.36.
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 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 87.12%. The company had revenue of $286.50 million for the quarter, compared to analysts’ expectations of $251.99 million. During the same quarter last year, the business earned $0.38 EPS. The firm’s revenue was up 27.7% compared to the same quarter last year. Sell-side analysts forecast 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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