Platinum Investment Management Ltd. reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 181,358 shares of the company’s stock after selling 20,005 shares during the period. Platinum Investment Management Ltd. owned approximately 0.20% of Planet Fitness worth $14,086,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its holdings in Planet Fitness by 93.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock valued at $35,000 after buying an additional 220 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Planet Fitness during the first quarter worth $40,000. Ameritas Advisory Services LLC bought a new stake in shares of Planet Fitness during the first quarter worth $65,000. Signaturefd LLC increased its position in shares of Planet Fitness by 16.0% during the first quarter. Signaturefd LLC now owns 1,086 shares of the company’s stock worth $84,000 after acquiring an additional 150 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Planet Fitness by 23.0% during the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after acquiring an additional 219 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently weighed in on PLNT shares. Bank of America decreased their target price on shares of Planet Fitness from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, August 4th. StockNews.com started coverage on shares of Planet Fitness in a research report on Thursday, August 17th. They issued a “hold” rating for the company. DA Davidson decreased their target price on shares of Planet Fitness from $67.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, August 4th. Robert W. Baird decreased their target price on shares of Planet Fitness from $95.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Finally, VNET Group reaffirmed a “maintains” rating on shares of Planet Fitness in a research report on Friday, May 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.29.
Check Out Our Latest Report on Planet Fitness
Planet Fitness Price Performance
NYSE:PLNT traded up $0.34 on Monday, reaching $60.36. 395,176 shares of the company’s stock were exchanged, compared to its average volume of 1,214,686. The stock has a fifty day simple moving average of $65.11 and a 200-day simple moving average of $71.49. Planet Fitness, Inc. has a 52 week low of $54.15 and a 52 week high of $85.90. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 41.01, a P/E/G ratio of 0.93 and a beta of 1.29.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its earnings results on Thursday, August 3rd. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.11. Planet Fitness had a net margin of 12.03% and a negative return on equity of 86.09%. The business had revenue of $286.50 million during the quarter, compared to analyst estimates of $251.99 million. During the same period in the previous year, the business posted $0.38 earnings per share. Planet Fitness’s revenue for the quarter was up 27.7% on a year-over-year basis. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 2.18 EPS 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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