K.J. Harrison & Partners Inc purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,000 shares of the company’s stock, valued at approximately $388,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of PLNT. PNC Financial Services Group Inc. raised its stake in Planet Fitness by 13.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after acquiring an additional 157 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Planet Fitness by 801.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after purchasing an additional 1,635 shares during the last quarter. MetLife Investment Management LLC acquired a new position in Planet Fitness in the 1st quarter worth approximately $357,000. BlackRock Inc. raised 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 worth $606,915,000 after buying an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Planet Fitness during the 1st quarter valued at approximately $919,000. 95.82% of the stock is owned by hedge funds and other institutional investors.
Planet Fitness Stock Up 1.1 %
Shares of NYSE PLNT opened at $66.76 on Friday. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 53.41, a price-to-earnings-growth ratio of 1.22 and a beta of 1.30. The company’s 50-day simple moving average is $68.62 and its 200-day simple moving average is $75.60. Planet Fitness, Inc. has a 52-week low of $54.15 and a 52-week high of $85.90.
Planet Fitness (NYSE:PLNT – Free Report) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). Planet Fitness had a net margin of 10.86% and a negative return on equity of 73.81%. The company had revenue of $222.23 million during the quarter, compared to analysts’ expectations of $238.30 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.16 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Planet Fitness from $105.00 to $95.00 in a research note on Friday, May 5th. Royal Bank of Canada started 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. StockNews.com began coverage on Planet Fitness in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Piper Sandler reduced their price target on Planet Fitness from $96.00 to $88.00 in a research report on Thursday, June 22nd. Finally, VNET Group restated a “maintains” rating on shares of Planet Fitness in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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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