Dorsal Capital Management LP bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,500,000 shares of the company’s stock, valued at approximately $182,500,000. Planet Fitness accounts for about 5.6% of Dorsal Capital Management LP’s investment portfolio, making the stock its 7th biggest position. Dorsal Capital Management LP owned approximately 2.84% of Planet Fitness at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Asset Management One Co. Ltd. lifted its stake in Planet Fitness by 17.4% in the fourth 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. Amalgamated Bank lifted its stake in Planet Fitness by 0.3% in the fourth quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock worth $4,203,000 after acquiring an additional 179 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Planet Fitness by 2.8% during the fourth quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock valued at $494,000 after buying an additional 182 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Planet Fitness by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after buying an additional 190 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after buying an additional 197 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.
Planet Fitness Price Performance
Shares of NYSE:PLNT opened at $70.99 on Monday. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $75.86. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 2.29 and a beta of 1.43. The business’s 50 day moving average price is $62.68 and its 200-day moving average price is $66.00.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $248.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.42 earnings per share for the current year.
Wall Street Analysts Forecast Growth
PLNT has been the subject of several analyst reports. Stifel Nicolaus lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and decreased their price target for the company from $80.00 to $70.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. raised shares of Planet Fitness from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $78.00 in a research report on Tuesday, May 14th. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Royal Bank of Canada decreased their price target on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Finally, Raymond James upped their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.00.
Get 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.
Further Reading
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