Victory Capital Management Inc. grew its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 19.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,882 shares of the company’s stock after acquiring an additional 2,905 shares during the quarter. Victory Capital Management Inc.’s holdings in Planet Fitness were worth $1,305,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of PLNT. Allworth Financial LP lifted 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 worth $26,000 after buying an additional 255 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in shares of Planet Fitness during the 4th quarter worth approximately $47,000. Covestor Ltd lifted its position 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 buying an additional 238 shares during the period. Asset Management One Co. Ltd. lifted its position 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 worth $73,000 after buying an additional 148 shares during the period. Finally, Larson Financial Group LLC bought a new position in shares of Planet Fitness during the 3rd quarter worth approximately $182,000. Institutional investors own 95.53% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on PLNT. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the stock from $80.00 to $70.00 in a research report on Friday, May 10th. Morgan Stanley reissued an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. Robert W. Baird lifted 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. DA Davidson reissued a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research note on Thursday, May 9th. Finally, Raymond James lifted their target price on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned 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 $71.86.
Check Out Our Latest Stock Report on PLNT
Planet Fitness Price Performance
NYSE:PLNT opened at $63.27 on Monday. The business’s 50-day simple moving average is $61.63 and its 200-day simple moving average is $65.82. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $75.86. The stock has a market capitalization of $5.58 billion, a PE ratio of 36.36, a price-to-earnings-growth ratio of 2.12 and a beta of 1.37.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share (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 firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, research analysts expect that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.
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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