Russell Investments Group Ltd. reduced its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 55.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,530 shares of the company’s stock after selling 15,541 shares during the period. Russell Investments Group Ltd.’s holdings in Planet Fitness were worth $915,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cadian Capital Management LP boosted its position in shares of Planet Fitness by 164.7% during the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock valued at $198,860,000 after acquiring an additional 2,516,007 shares during the last quarter. Hawk Ridge Capital Management LP bought a new position in Planet Fitness during the third quarter valued at $29,476,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Planet Fitness in the 3rd quarter worth $25,133,000. Sequoia Financial Advisors LLC bought a new stake in shares of Planet Fitness in the 3rd quarter worth about $24,443,000. Finally, Triodos Investment Management BV purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at about $19,672,000. 95.53% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $68.00 to $78.00 in a research note on Tuesday, May 14th. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the company from $80.00 to $70.00 in a research report on Friday, May 10th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Robert W. Baird boosted their price objective on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a report on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.86.
Check Out Our Latest Stock Report on PLNT
Planet Fitness Trading Down 3.3 %
Shares of Planet Fitness stock opened at $63.27 on Monday. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $75.86. The stock’s fifty day moving average price is $61.63 and its 200-day moving average price is $65.82. The firm has a market cap of $5.58 billion, a P/E ratio of 36.36, a P/E/G ratio of 2.12 and a beta of 1.37.
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 firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. Analysts forecast that Planet Fitness, Inc. will post 2.43 earnings per share 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 company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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