Daiwa Securities Group Inc. lessened its stake in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 32.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,710 shares of the company’s stock after selling 1,310 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Planet Fitness were worth $170,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Allworth Financial LP grew its position in Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Planet Fitness in the 1st quarter valued at $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in Planet Fitness in the 4th quarter valued at $47,000. Asset Management One Co. Ltd. grew its position in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after purchasing an additional 148 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Planet Fitness by 24.4% in the 4th 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 last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on PLNT. Royal Bank of Canada cut their price target on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $100.00 in a report on Monday, June 10th. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and upped their price target for the company from $66.00 to $92.00 in a report on Monday, June 24th. Piper Sandler upped their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Raymond James boosted their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.64.
Read Our Latest Analysis on PLNT
Planet Fitness Stock Up 2.0 %
Shares of PLNT stock opened at $75.37 on Friday. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 43.32, a price-to-earnings-growth ratio of 2.48 and a beta of 1.49. Planet Fitness, Inc. has a 52 week low of $44.13 and a 52 week high of $75.86. The firm has a 50 day moving average of $68.50 and a 200-day moving average of $66.70.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Analysts anticipate that Planet Fitness, Inc. will post 2.43 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.
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