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Truist Financial Corp decreased its stake in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 16.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,421 shares of the company’s stock after selling 8,298 shares during the period. Truist Financial Corp’s holdings in Planet Fitness were worth $3,498,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of 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 valued at $144,765,000 after purchasing an additional 1,108,100 shares during the last quarter. Eagle Asset Management Inc. raised its position in Planet Fitness by 79.2% in the 4th quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock valued at $174,825,000 after purchasing an additional 846,128 shares during the last quarter. Alliancebernstein L.P. raised its position in Planet Fitness by 37.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock valued at $251,075,000 after purchasing an additional 748,189 shares during the last quarter. Victory Capital Management Inc. raised its position in Planet Fitness by 278.5% during the 4th quarter. Victory Capital Management Inc. now owns 930,951 shares of the company’s stock worth $84,325,000 after buying an additional 684,971 shares during the last quarter. Finally, Chicago Capital LLC raised its position in Planet Fitness by 298.8% during the 1st quarter. Chicago Capital LLC now owns 477,079 shares of the company’s stock worth $40,304,000 after buying an additional 357,448 shares during the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have commented on PLNT shares. DA Davidson cut their price objective on shares of Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. JPMorgan Chase & Co. upgraded shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a research report on Wednesday, May 11th. BMO Capital Markets cut their price objective on shares of Planet Fitness from $96.00 to $88.00 in a research report on Wednesday, May 11th. Robert W. Baird cut their price objective on shares of Planet Fitness from $108.00 to $92.00 in a research report on Wednesday, May 11th. Finally, Exane BNP Paribas upgraded shares of Planet Fitness from an “underperform” rating to a “neutral” rating in a report on Thursday, July 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $96.92.
Planet Fitness Price Performance
Shares of PLNT opened at $75.02 on Friday. The firm has a 50 day simple moving average of $69.14 and a 200-day simple moving average of $79.88. Planet Fitness, Inc. has a 1-year low of $61.11 and a 1-year high of $99.60. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 117.22, a price-to-earnings-growth ratio of 1.29 and a beta of 1.14.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. During the same period last year, the company posted $0.10 EPS. The company’s revenue was up 66.8% on a year-over-year basis. On average, equities analysts expect that Planet Fitness, Inc. will post 1.55 earnings per share for the current fiscal year.
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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