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Daiwa Securities Group Inc. bought a new position in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 8,920 shares of the company’s stock, valued at approximately $754,000.
A number of other large investors also recently added to or reduced their stakes in PLNT. Artemis Investment Management LLP raised its position in Planet Fitness by 225.3% in the 4th quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock worth $144,765,000 after purchasing an additional 1,108,100 shares during the period. Eagle Asset Management Inc. increased its position in shares of Planet Fitness by 79.2% in the fourth quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock valued at $174,825,000 after acquiring an additional 846,128 shares during the period. Alliancebernstein L.P. increased its position in shares of Planet Fitness by 37.0% in the fourth quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock valued at $251,075,000 after acquiring an additional 748,189 shares during the period. Victory Capital Management Inc. increased its position in shares of Planet Fitness by 278.5% in the fourth quarter. Victory Capital Management Inc. now owns 930,951 shares of the company’s stock valued at $84,325,000 after acquiring an additional 684,971 shares during the period. Finally, Chicago Capital LLC increased its position in shares of Planet Fitness by 298.8% in the first quarter. Chicago Capital LLC now owns 477,079 shares of the company’s stock valued at $40,304,000 after acquiring an additional 357,448 shares during the period. Hedge funds and other institutional investors own 93.87% of the company’s stock.
Planet Fitness Stock Performance
Shares of NYSE PLNT opened at $79.39 on Friday. The firm’s 50 day moving average price is $69.97 and its 200-day moving average price is $79.41. The company has a market cap of $7.23 billion, a PE ratio of 124.05, a P/E/G ratio of 1.47 and a beta of 1.14. Planet Fitness, Inc. has a 52-week low of $61.11 and a 52-week high of $99.60.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $190.44 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s revenue was up 66.8% on a year-over-year basis. On average, analysts forecast that Planet Fitness, Inc. will post 1.55 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
PLNT has been the topic of a number of analyst reports. Piper Sandler decreased their price objective on shares of Planet Fitness from $87.00 to $72.00 in a research report on Wednesday, May 11th. Exane BNP Paribas raised shares of Planet Fitness from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 7th. BNP Paribas raised shares of Planet Fitness from an “underperform” rating to a “neutral” rating and set a $75.00 target price on the stock in a research note on Thursday, July 7th. DA Davidson cut their target price on shares of Planet Fitness from $110.00 to $90.00 in a research note on Friday, May 13th. Finally, JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a research note on Wednesday, May 11th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $96.92.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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