Sandy Spring Bank cut its stake in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 60.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the company’s stock after selling 1,500 shares during the period. Sandy Spring Bank’s holdings in Planet Fitness were worth $78,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in shares of Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after purchasing an additional 157 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Planet Fitness by 801.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after acquiring an additional 1,635 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Planet Fitness in the 1st quarter valued at about $357,000. BlackRock Inc. increased its position in Planet Fitness by 34.8% in the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after acquiring an additional 1,852,867 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Planet Fitness in the 1st quarter valued at about $919,000. 95.82% of the stock is owned by institutional investors.
Analyst Ratings Changes
PLNT has been the subject of several analyst reports. Bank of America lowered their price target on shares of Planet Fitness from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com assumed coverage on shares of Planet Fitness in a research report on Thursday, May 18th. They set a “hold” rating for the company. VNET Group reissued a “maintains” rating on shares of Planet Fitness in a research note on Friday, May 5th. Robert W. Baird reduced their price objective on shares of Planet Fitness from $95.00 to $87.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, BNP Paribas lowered shares of Planet Fitness from a “neutral” rating to an “underperform” rating and set a $57.00 price target on the stock. in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.00.
Planet Fitness Stock Performance
PLNT stock opened at $61.81 on Tuesday. The company’s 50-day simple moving average is $67.10 and its 200 day simple moving average is $73.57. Planet Fitness, Inc. has a 52 week low of $54.15 and a 52 week high of $85.90. The company has a market capitalization of $5.51 billion, a PE ratio of 42.05, a price-to-earnings-growth ratio of 0.95 and a beta of 1.29.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.54 by $0.11. Planet Fitness had a net margin of 12.03% and a negative return on equity of 87.12%. The business had revenue of $286.50 million for the quarter, compared to the consensus estimate of $251.99 million. During the same period in the prior year, the company posted $0.38 earnings per share. Planet Fitness’s revenue was up 27.7% compared to the same quarter last year. On average, analysts forecast that Planet Fitness, Inc. will post 2.18 EPS for the current year.
Planet Fitness 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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