Perfromance Wealth Partners LLC purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,430 shares of the company’s stock, valued at approximately $344,000.
Several other institutional investors have also modified their holdings of PLNT. 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 worth $35,000 after purchasing an additional 220 shares during the period. International Assets Investment Management LLC acquired a new stake in Planet Fitness in the first quarter worth about $40,000. Harvest Fund Management Co. Ltd lifted its holdings in Planet Fitness by 144.7% in the fourth 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. Whittier Trust Co. of Nevada Inc. lifted its holdings in 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 purchasing an additional 384 shares during the period. Finally, Captrust Financial Advisors lifted its holdings in Planet Fitness by 23.0% in the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after purchasing an additional 219 shares during the period. Institutional investors own 95.82% of the company’s stock.
Wall Street Analyst Weigh In
PLNT has been the subject of a number of research analyst reports. Robert W. Baird cut their price target on shares of Planet Fitness from $105.00 to $95.00 in a report on Friday, May 5th. BNP Paribas downgraded shares of Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 price target for the company. in a report on Friday, June 23rd. Royal Bank of Canada began coverage on shares of Planet Fitness in a report on Friday, May 19th. They issued an “outperform” rating and a $86.00 price target for the company. VNET Group restated a “maintains” rating on shares of Planet Fitness in a report on Friday, May 5th. Finally, BMO Capital Markets cut their price objective on Planet Fitness from $90.00 to $82.00 in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.33.
Planet Fitness Stock Performance
NYSE:PLNT opened at $67.55 on Tuesday. The stock’s 50 day moving average price is $69.77 and its 200 day moving average price is $75.85. Planet Fitness, Inc. has a 52 week low of $54.15 and a 52 week high of $85.90. The company has a market capitalization of $6.02 billion, a P/E ratio of 54.04, a P/E/G ratio of 1.23 and a beta of 1.31.
Planet Fitness (NYSE:PLNT – Free Report) last announced its earnings results on Thursday, May 4th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $222.23 million for the quarter, compared to the consensus estimate of $238.30 million. Planet Fitness had a negative return on equity of 73.81% and a net margin of 10.86%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.16 earnings per share for the current fiscal year.
Planet Fitness Profile
(Free Report)
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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