Raymond James & Associates lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 28.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,196 shares of the company’s stock after acquiring an additional 28,501 shares during the period. Raymond James & Associates owned about 0.15% of Planet Fitness worth $10,112,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in PLNT. Rockefeller Capital Management L.P. raised its position in shares of 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 in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Planet Fitness by 144.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 536 shares of the company’s stock valued at $42,000 after acquiring an additional 317 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Planet Fitness by 59.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $81,000 after acquiring an additional 384 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Planet Fitness by 23.0% during the 1st quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock valued at $99,000 after acquiring an additional 219 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of Planet Fitness by 357.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,318 shares of the company’s stock valued at $104,000 after acquiring an additional 1,030 shares in the last quarter. 95.82% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PLNT has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on Planet Fitness from $96.00 to $88.00 in a research note on Thursday, June 22nd. VNET Group restated a “maintains” rating on shares of Planet Fitness in a research note on Friday, May 5th. Robert W. Baird lowered their price objective on Planet Fitness from $105.00 to $95.00 in a research note on Friday, May 5th. BNP Paribas downgraded Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 price objective for the company. in a research note on Friday, June 23rd. Finally, Royal Bank of Canada initiated 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.33.
Planet Fitness Stock Down 2.3 %
Shares of PLNT stock opened at $66.01 on Thursday. The stock has a 50-day simple moving average of $69.27 and a 200 day simple moving average of $75.73. Planet Fitness, Inc. has a fifty-two week low of $54.15 and a fifty-two week high of $85.90. The stock has a market capitalization of $5.89 billion, a P/E ratio of 52.81, a P/E/G ratio of 1.23 and a beta of 1.30.
Planet Fitness (NYSE:PLNT – Free Report) last announced its earnings results on Thursday, May 4th. The company reported $0.41 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $238.30 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.16 earnings per share for the current year.
Planet Fitness Company 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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