Comerica Bank cut its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,971 shares of the company’s stock after selling 1,902 shares during the quarter. Comerica Bank’s holdings in Planet Fitness were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of PLNT. Dorsal Capital Management LP bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $182,500,000. Greenvale Capital LLP boosted its holdings in Planet Fitness by 291.3% in the fourth quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock valued at $127,103,000 after acquiring an additional 1,296,140 shares in the last quarter. Norges Bank purchased a new position in Planet Fitness during the 4th quarter valued at $65,674,000. Steadfast Capital Management LP raised its holdings in Planet Fitness by 97.7% in the 1st quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after purchasing an additional 682,863 shares in the last quarter. Finally, Junto Capital Management LP lifted its position in shares of Planet Fitness by 255.4% in the 4th quarter. Junto Capital Management LP now owns 756,934 shares of the company’s stock worth $55,256,000 after purchasing an additional 543,942 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on PLNT. Stifel Nicolaus cut Planet Fitness from a “buy” rating to a “hold” rating and cut their price objective for the company from $80.00 to $70.00 in a research report on Friday, May 10th. TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and upped their price target for the stock from $66.00 to $92.00 in a research note on Monday, June 24th. Raymond James boosted their target price 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. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $87.00 target price (up from $80.00) on shares of Planet Fitness in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.87.
View Our Latest Analysis on Planet Fitness
Planet Fitness Stock Performance
NYSE PLNT opened at $75.75 on Thursday. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $79.10. The stock has a 50-day moving average of $72.57 and a 200 day moving average of $66.88. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 43.53, a PEG ratio of 2.44 and a beta of 1.49.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The firm had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same period in the prior year, the firm earned $0.65 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal 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.
Further Reading
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