Avory & Company LLC lessened its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 71.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,896 shares of the company’s stock after selling 11,975 shares during the period. Planet Fitness accounts for 0.3% of Avory & Company LLC’s investment portfolio, making the stock its 23rd largest position. Avory & Company LLC’s holdings in Planet Fitness were worth $380,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in PLNT. Rockefeller Capital Management L.P. raised its holdings in Planet Fitness by 93.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock valued at $35,000 after acquiring an additional 220 shares during the period. International Assets Investment Management LLC purchased a new stake in Planet Fitness during the 1st quarter worth about $40,000. Harvest Fund Management Co. Ltd boosted its stake in Planet Fitness by 144.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 536 shares of the company’s stock worth $42,000 after purchasing an additional 317 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Planet Fitness during the first quarter valued at about $65,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Planet Fitness by 59.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock worth $81,000 after buying an additional 384 shares in the last quarter. Institutional investors own 95.82% of the company’s stock.
Planet Fitness Trading Up 0.4 %
Shares of PLNT traded up $0.28 during mid-day trading on Friday, reaching $65.86. The company’s stock had a trading volume of 1,115,494 shares, compared to its average volume of 1,179,116. Planet Fitness, Inc. has a 52 week low of $54.15 and a 52 week high of $85.90. The stock has a market cap of $5.87 billion, a PE ratio of 52.69, a P/E/G ratio of 1.01 and a beta of 1.30. The company’s fifty day moving average price is $67.42 and its two-hundred day moving average price is $74.60.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its earnings results on Thursday, May 4th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $222.23 million during the quarter, compared to analysts’ expectations of $238.30 million. During the same quarter in the previous year, the business earned $0.32 EPS. Planet Fitness’s revenue for the quarter was up 19.0% compared to the same quarter last year. Research analysts anticipate that Planet Fitness, Inc. will post 2.16 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on PLNT. StockNews.com assumed coverage on shares of Planet Fitness in a research note on Thursday, May 18th. They set a “hold” rating for the company. Robert W. Baird decreased their price target on shares of Planet Fitness from $105.00 to $95.00 in a report on Friday, May 5th. Royal Bank of Canada began coverage on Planet Fitness in a research note on Friday, May 19th. They set an “outperform” rating and a $86.00 price objective for the company. Stifel Nicolaus upped their target price on Planet Fitness from $78.00 to $82.00 in a research note on Wednesday, June 14th. Finally, BNP Paribas downgraded Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 price target for the company. in a research report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.33.
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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