American International Group Inc. lowered its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,761 shares of the company’s stock after selling 3,747 shares during the period. American International Group Inc. owned approximately 0.13% of Planet Fitness worth $8,451,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Cadian Capital Management LP increased its position in shares of Planet Fitness by 9.6% during the fourth quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock valued at $323,417,000 after acquiring an additional 386,861 shares in the last quarter. Dorsal Capital Management LP bought a new stake in Planet Fitness in the 4th quarter worth approximately $182,500,000. Point72 Asset Management L.P. grew its position in Planet Fitness by 39.1% in the 4th quarter. Point72 Asset Management L.P. now owns 1,837,231 shares of the company’s stock worth $134,118,000 after purchasing an additional 516,790 shares during the period. Greenvale Capital LLP grew its position in Planet Fitness by 291.3% in the 4th quarter. Greenvale Capital LLP now owns 1,741,140 shares of the company’s stock worth $127,103,000 after purchasing an additional 1,296,140 shares during the period. Finally, Broad Bay Capital Management LP grew its position in Planet Fitness by 15.4% in the 4th quarter. Broad Bay Capital Management LP now owns 1,223,000 shares of the company’s stock worth $89,279,000 after purchasing an additional 163,000 shares during the period. Institutional investors own 95.53% of the company’s stock.
Planet Fitness Stock Up 0.8 %
Planet Fitness stock opened at $72.56 on Thursday. The company’s 50-day moving average price is $64.01 and its 200-day moving average price is $66.30. Planet Fitness, Inc. has a twelve month low of $44.13 and a twelve month high of $75.86. The company has a market cap of $6.40 billion, a PE ratio of 41.70, a price-to-earnings-growth ratio of 2.42 and a beta of 1.43.
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 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 the consensus estimate of $249.48 million. During the same period in the previous year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have commented on PLNT. Stifel Nicolaus downgraded shares of 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. Robert W. Baird lifted their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the stock 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 research report on Wednesday, May 8th. DA Davidson reiterated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. Finally, Raymond James lifted their price target on shares of 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 investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $75.00.
Read Our Latest 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.
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