American International Group Inc. lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,761 shares of the company’s stock after selling 3,747 shares during the period. American International Group Inc. owned about 0.13% of Planet Fitness worth $8,451,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of PLNT. Allworth Financial LP grew its holdings in shares of Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness during the 4th quarter worth approximately $47,000. Covestor Ltd grew its holdings in shares of Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after acquiring an additional 238 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after acquiring an additional 148 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in shares of Planet Fitness by 24.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after acquiring an additional 197 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on PLNT shares. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $78.00 in a report on Tuesday, May 14th. DA Davidson reiterated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a report on Thursday, May 9th. Raymond James boosted their price target on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 10th. Finally, Robert W. Baird boosted their price target on Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average price target of $71.86.
Check Out Our Latest Research Report on Planet Fitness
Planet Fitness Trading Up 3.2 %
PLNT stock opened at $68.07 on Monday. The stock has a market capitalization of $6.00 billion, a PE ratio of 39.12, a price-to-earnings-growth ratio of 2.29 and a beta of 1.43. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $75.86. The stock’s 50 day simple moving average is $62.68 and its 200 day simple moving average is $66.00.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. On average, research analysts predict that Planet Fitness, Inc. will post 2.42 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 company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
Further Reading
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