Tidal Investments LLC raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 71.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,941 shares of the company’s stock after acquiring an additional 2,056 shares during the quarter. Tidal Investments LLC’s holdings in Planet Fitness were worth $309,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PLNT. Asset Management One Co. Ltd. boosted its stake in 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 acquiring an additional 148 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Planet Fitness by 886.5% in the 4th quarter. International Assets Investment Management LLC now owns 5,840 shares of the company’s stock worth $426,000 after buying an additional 5,248 shares during the last quarter. Allworth Financial LP lifted its position in shares of 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 buying an additional 255 shares during the last quarter. Friedenthal Financial bought a new position in shares of Planet Fitness in the 4th quarter worth about $728,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Planet Fitness in the 4th quarter worth about $1,752,000. 95.53% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently issued reports on PLNT. Stifel Nicolaus downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and reduced their price target for the stock from $80.00 to $70.00 in a research report on Friday, May 10th. Roth Mkm lifted their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $92.00 in a research report on Monday, June 24th. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Finally, Royal Bank of Canada lifted their price objective on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $79.87.
Check Out Our Latest Stock Analysis on PLNT
Planet Fitness Price Performance
Shares of PLNT traded up $0.80 during mid-day trading on Friday, hitting $79.04. The company’s stock had a trading volume of 2,469,125 shares, compared to its average volume of 1,695,920. The firm has a 50-day moving average price of $73.22 and a 200 day moving average price of $67.00. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 45.43, a PEG ratio of 2.44 and a beta of 1.49. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $79.53.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, equities analysts anticipate that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal year.
Insider Buying and Selling at Planet Fitness
In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at approximately $524,549.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.94% of the company’s stock.
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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