Oppenheimer & Co. Inc. lifted its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 12.5% during the 1st quarter, HoldingsChannel reports. The firm owned 18,588 shares of the company’s stock after acquiring an additional 2,070 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Planet Fitness were worth $1,164,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Allworth Financial LP increased its stake in Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Planet Fitness during the first quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness during the fourth quarter valued at approximately $47,000. Asset Management One Co. Ltd. boosted its position in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Planet Fitness by 24.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares during the period. 95.53% of the stock is owned by institutional investors.
Planet Fitness Stock Performance
Shares of PLNT opened at $76.47 on Tuesday. The business’s 50-day moving average is $68.81 and its two-hundred day moving average is $66.63. The company has a market capitalization of $6.74 billion, a P/E ratio of 43.95, a P/E/G ratio of 2.53 and a beta of 1.49. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $77.30.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.41 EPS. Analysts forecast that Planet Fitness, Inc. will post 2.43 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on PLNT shares. Royal Bank of Canada lowered their price target on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $68.00 to $78.00 in a research report on Tuesday, May 14th. Piper Sandler upped their price target on Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and reduced their price target for the stock from $80.00 to $70.00 in a research report on Friday, May 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research report on Friday, June 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $77.64.
View Our Latest Research Report on Planet Fitness
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 company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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