Rhumbline Advisers raised its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,682 shares of the company’s stock after acquiring an additional 5,224 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Planet Fitness worth $7,665,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the company. Guggenheim Capital LLC purchased a new position in Planet Fitness in the first quarter worth approximately $246,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Planet Fitness by 24.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,343 shares of the company’s stock valued at $1,502,000 after acquiring an additional 3,815 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Planet Fitness by 5.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 19,000 shares of the company’s stock valued at $1,476,000 after acquiring an additional 980 shares during the period. Zions Bancorporation N.A. increased its holdings in shares of Planet Fitness by 23.5% in the 1st quarter. Zions Bancorporation N.A. now owns 13,326 shares of the company’s stock valued at $1,035,000 after acquiring an additional 2,539 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Planet Fitness in the 1st quarter valued at $575,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on PLNT shares. Macquarie cut their target price on shares of Planet Fitness from $85.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. TD Cowen cut their target price on shares of Planet Fitness from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, August 8th. Stifel Nicolaus lifted their target price on shares of Planet Fitness from $78.00 to $82.00 in a report on Wednesday, June 14th. DA Davidson dropped their price objective on shares of Planet Fitness from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, August 4th. Finally, Robert W. Baird cut their price objective on shares of Planet Fitness from $95.00 to $87.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.00.
Planet Fitness Trading Down 1.1 %
PLNT stock opened at $60.99 on Wednesday. The company has a market cap of $5.38 billion, a P/E ratio of 41.49, a P/E/G ratio of 0.95 and a beta of 1.30. Planet Fitness, Inc. has a 52 week low of $54.15 and a 52 week high of $85.90. The company’s 50-day moving average price is $64.36 and its 200 day moving average price is $70.53.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. The firm had revenue of $286.50 million for the quarter, compared to the consensus estimate of $251.99 million. Planet Fitness had a net margin of 12.03% and a negative return on equity of 86.09%. The firm’s revenue was up 27.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.18 earnings per share for the current year.
About Planet Fitness
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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