Handelsinvest Investeringsforvaltning lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 34.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,044 shares of the company’s stock after selling 1,580 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Planet Fitness were worth $191,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. lifted 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 valued at $73,000 after purchasing an additional 148 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Planet Fitness by 0.3% during the 4th quarter. Amalgamated Bank now owns 57,570 shares of the company’s stock valued at $4,203,000 after purchasing an additional 179 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Planet Fitness by 2.8% during the 4th quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock valued at $494,000 after purchasing an additional 182 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of Planet Fitness by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after purchasing an additional 190 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted 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 valued at $73,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.
Planet Fitness Trading Up 0.6 %
PLNT stock opened at $73.94 on Thursday. The firm has a market capitalization of $6.52 billion, a PE ratio of 42.49, a PEG ratio of 2.47 and a beta of 1.49. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $75.86. The business’s 50 day simple moving average is $66.58 and its 200 day simple moving average is $66.59.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share 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 business had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have commented on the company. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the company from $66.00 to $92.00 in a research note on Monday, June 24th. Royal Bank of Canada cut their target price 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. Robert W. Baird boosted their target price on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.64.
Get Our Latest Stock Report 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.
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