CIBC Private Wealth Group LLC decreased its stake in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,712 shares of the company’s stock after selling 1,722 shares during the period. CIBC Private Wealth Group LLC’s holdings in Planet Fitness were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in PLNT. Allworth Financial LP boosted its position in shares of Planet Fitness by 247.6% during the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness during the fourth quarter valued at approximately $47,000. Covestor Ltd boosted its position in shares of Planet Fitness by 19.5% during the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after buying an additional 238 shares during the last quarter. 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 last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in Planet Fitness by 24.4% during the fourth 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. Institutional investors and hedge funds own 95.53% of the company’s stock.
Planet Fitness Trading Up 3.2 %
PLNT opened at $68.07 on Monday. The stock has a 50-day moving average price of $62.68 and a 200-day moving average price of $66.00. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $75.86. The stock has a market capitalization of $6.00 billion, a P/E ratio of 39.12, a PEG ratio of 2.29 and a beta of 1.43.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. During the same period in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.42 EPS for the current year.
Wall Street Analysts Forecast Growth
PLNT has been the topic of a number of recent analyst reports. DA Davidson reiterated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a report on Thursday, May 9th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Royal Bank of Canada decreased their price objective on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, May 10th. Stifel Nicolaus lowered Planet Fitness from a “buy” rating to a “hold” rating and decreased their price objective for the company from $80.00 to $70.00 in a research note on Friday, May 10th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research note on Monday, April 1st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.86.
Check Out Our Latest Research Report on PLNT
Planet Fitness Company 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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