Virtu Financial LLC trimmed its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 88.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,259 shares of the company’s stock after selling 24,274 shares during the period. Virtu Financial LLC’s holdings in Planet Fitness were worth $238,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PLNT. Allworth Financial LP lifted its position in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in Planet Fitness in the fourth quarter worth approximately $47,000. Covestor Ltd lifted its position in Planet Fitness by 19.5% in the third quarter. Covestor Ltd now owns 1,460 shares of the company’s stock worth $72,000 after purchasing an additional 238 shares during the period. Asset Management One Co. Ltd. lifted its position in Planet Fitness by 17.4% in the fourth 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 period. Finally, First Horizon Advisors Inc. lifted its position in Planet Fitness by 24.4% in the fourth 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 period. 95.53% of the stock is currently owned by institutional investors and hedge funds.
Planet Fitness Stock Down 0.5 %
PLNT opened at $72.67 on Friday. The stock has a fifty day moving average of $64.45 and a 200-day moving average of $66.36. The firm has a market capitalization of $6.41 billion, a P/E ratio of 41.76, a PEG ratio of 2.44 and a beta of 1.43. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced 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. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $249.48 million. During the same period last year, the company earned $0.41 earnings per share. Planet Fitness’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently commented on PLNT. Robert W. Baird increased their price objective on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Morgan Stanley reiterated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Royal Bank of Canada cut their price objective on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. DA Davidson reiterated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Finally, Raymond James increased their price objective on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $75.00.
Read Our Latest Stock 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.
See Also
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