Victory Capital Management Inc. cut its position in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,279 shares of the company’s stock after selling 1,467 shares during the period. Victory Capital Management Inc.’s holdings in Planet Fitness were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its holdings in Planet Fitness by 290.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 781 shares of the company’s stock valued at $53,000 after acquiring an additional 581 shares during the last quarter. Captrust Financial Advisors grew its holdings in 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 buying an additional 219 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after buying an additional 157 shares in the last quarter. Parallel Advisors LLC increased its stake in Planet Fitness by 565.3% in the 2nd quarter. Parallel Advisors LLC now owns 1,437 shares of the company’s stock worth $98,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $108,000. 94.56% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on PLNT. BMO Capital Markets increased their price objective on shares of Planet Fitness from $88.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, November 9th. DA Davidson lifted their target price on Planet Fitness from $90.00 to $99.00 and gave the stock a “buy” rating in a report on Friday, November 11th. StockNews.com started coverage on Planet Fitness in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Robert W. Baird increased their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 11th. Finally, Guggenheim dropped their price target on shares of Planet Fitness to $85.00 in a research note on Tuesday, November 1st. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.77.
Planet Fitness Price Performance
NYSE:PLNT opened at $83.26 on Thursday. The firm has a market cap of $7.46 billion, a PE ratio of 99.12, a price-to-earnings-growth ratio of 1.25 and a beta of 1.26. The company has a 50-day moving average of $79.83 and a 200 day moving average of $72.77. Planet Fitness, Inc. has a 1-year low of $54.15 and a 1-year high of $97.04.
Planet Fitness (NYSE:PLNT – Get Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $244.39 million for the quarter, compared to the consensus estimate of $237.40 million. Planet Fitness had a net margin of 8.52% and a negative return on equity of 36.77%. Sell-side analysts anticipate that Planet Fitness, Inc. will post 1.59 EPS for the current fiscal year.
Planet Fitness Profile
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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