Quantamental Technologies LLC acquired a new position in Planet Fitness Inc (NYSE:PLNT) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 1,063 shares of the company’s stock, valued at approximately $73,000.
Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Planet Fitness by 57.7% in the 4th quarter. FMR LLC now owns 7,135,122 shares of the company’s stock valued at $382,585,000 after purchasing an additional 2,610,693 shares in the last quarter. Norges Bank purchased a new position in Planet Fitness in the 4th quarter valued at about $42,748,000. Pelham Capital Ltd. purchased a new position in Planet Fitness in the 1st quarter valued at about $44,047,000. Assenagon Asset Management S.A. purchased a new position in Planet Fitness in the 1st quarter valued at about $19,940,000. Finally, Stifel Financial Corp purchased a new position in Planet Fitness in the 4th quarter valued at about $15,159,000. Institutional investors and hedge funds own 96.02% of the company’s stock.
A number of research firms have issued reports on PLNT. ValuEngine upgraded shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 1st. Macquarie upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and upped their target price for the company from $64.00 to $85.00 in a report on Tuesday, May 7th. Wedbush upped their target price on shares of Planet Fitness from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 27th. Cowen reaffirmed an “average” rating and set a $85.00 price objective (up previously from $65.00) on shares of Planet Fitness in a research note on Monday, April 29th. Finally, Jefferies Financial Group upped their price objective on shares of Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $67.57.
In related news, CEO Christopher Rondeau sold 200,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $65.86, for a total transaction of $13,172,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Berg sold 6,291 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $61.73, for a total transaction of $388,343.43. Following the sale, the director now directly owns 6,615 shares of the company’s stock, valued at approximately $408,343.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 466,291 shares of company stock valued at $29,813,238. Corporate insiders own 14.52% of the company’s stock.
NYSE PLNT opened at $78.60 on Friday. Planet Fitness Inc has a 12 month low of $38.32 and a 12 month high of $78.99. The stock has a market cap of $7.27 billion, a PE ratio of 64.43, a P/E/G ratio of 2.34 and a beta of 0.76.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Planet Fitness had a net margin of 15.91% and a negative return on equity of 53.73%. The company had revenue of $148.82 million during the quarter, compared to the consensus estimate of $153.41 million. During the same quarter in the prior year, the company posted $0.27 EPS. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. Sell-side analysts forecast that Planet Fitness Inc will post 1.55 earnings per share for the current year.
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About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It 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, the Dominican Republic, and Panama.
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