Goldman Sachs Group Inc. cut its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 41.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,313,174 shares of the company’s stock after selling 948,280 shares during the period. Goldman Sachs Group Inc. owned 1.49% of Planet Fitness worth $95,862,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP increased its position 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 buying an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Planet Fitness during the 4th quarter worth approximately $47,000. Covestor Ltd increased 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 last quarter. Asset Management One Co. Ltd. raised its stake in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after acquiring an additional 148 shares during the period. Finally, First Horizon Advisors Inc. boosted its position 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 purchasing an additional 197 shares during the period. 95.53% of the stock is owned by institutional investors.
Planet Fitness Stock Performance
Shares of NYSE PLNT opened at $71.24 on Tuesday. The stock has a market capitalization of $6.28 billion, a P/E ratio of 40.94, a PEG ratio of 2.29 and a beta of 1.43. The stock’s fifty day moving average is $62.68 and its 200 day moving average is $66.00. Planet Fitness, Inc. has a 52 week low of $44.13 and a 52 week high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same period last year, the firm earned $0.41 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Planet Fitness, Inc. will post 2.42 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on PLNT shares. Robert W. Baird increased 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. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Monday, April 1st. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $78.00 in a research report on Tuesday, May 14th. Finally, Raymond James increased their target price on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 10th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus price target of $75.00.
Get Our Latest Stock Analysis on PLNT
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.
See Also
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