Barclays PLC reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 46.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,273 shares of the company’s stock after selling 15,798 shares during the quarter. Barclays PLC’s holdings in Planet Fitness were worth $1,420,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Larson Financial Group LLC bought a new stake in shares of Planet Fitness during the 1st quarter valued at about $269,000. Emerald Mutual Fund Advisers Trust grew its stake in shares of Planet Fitness by 4.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 332,156 shares of the company’s stock valued at $25,799,000 after acquiring an additional 15,586 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Planet Fitness by 795.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 34,986 shares of the company’s stock valued at $2,717,000 after acquiring an additional 31,080 shares during the period. Jump Financial LLC bought a new position in shares of Planet Fitness during the 1st quarter valued at approximately $242,000. Finally, Granite Investment Partners LLC grew its stake in shares of Planet Fitness by 1.2% during the 1st quarter. Granite Investment Partners LLC now owns 82,413 shares of the company’s stock valued at $6,401,000 after acquiring an additional 945 shares during the period. 95.82% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on PLNT shares. TD Cowen cut their price objective on Planet Fitness from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, August 8th. Bank of America cut their price objective on Planet Fitness from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, August 4th. DA Davidson cut their price objective on Planet Fitness from $67.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Stifel Nicolaus boosted their price target on Planet Fitness from $78.00 to $82.00 in a report on Wednesday, June 14th. Finally, Piper Sandler lowered their price target on Planet Fitness from $96.00 to $88.00 in a report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.29.
Read Our Latest Stock Analysis on PLNT
Planet Fitness Price Performance
Shares of PLNT opened at $59.57 on Friday. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 40.52, a price-to-earnings-growth ratio of 0.91 and a beta of 1.29. Planet Fitness, Inc. has a 1 year low of $54.15 and a 1 year high of $85.90. The business’s 50 day simple moving average is $66.21 and its 200-day simple moving average is $72.30.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 earnings per share (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 business had revenue of $286.50 million for the quarter, compared to analysts’ expectations of $251.99 million. During the same period in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 27.7% on a year-over-year basis. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.18 earnings per share for the current year.
Planet Fitness Profile
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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