ProShare Advisors LLC lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,169 shares of the company’s stock after selling 325 shares during the period. ProShare Advisors LLC’s holdings in Planet Fitness were worth $261,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PLNT. Russell Investments Group Ltd. increased its holdings in shares of Planet Fitness by 8.4% during the first quarter. Russell Investments Group Ltd. now owns 13,587 shares of the company’s stock worth $851,000 after buying an additional 1,057 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Planet Fitness during the first quarter worth approximately $148,000. Swiss National Bank increased its holdings in shares of Planet Fitness by 1.1% during the first quarter. Swiss National Bank now owns 168,585 shares of the company’s stock worth $10,558,000 after buying an additional 1,900 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Planet Fitness by 12.5% during the first quarter. Oppenheimer & Co. Inc. now owns 18,588 shares of the company’s stock worth $1,164,000 after buying an additional 2,070 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Planet Fitness by 46.5% during the first quarter. SG Americas Securities LLC now owns 7,931 shares of the company’s stock worth $497,000 after buying an additional 2,517 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Raymond James raised their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Friday, May 10th. Stifel Nicolaus lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $80.00 to $70.00 in a report on Friday, May 10th. TD Cowen raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price target for the company from $66.00 to $92.00 in a report on Monday, June 24th. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $100.00 in a report on Monday, June 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a report on Friday, June 14th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.64.
Check Out Our Latest Research Report on Planet Fitness
Planet Fitness Stock Performance
Shares of PLNT stock opened at $74.99 on Friday. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $79.09. The stock has a market cap of $6.61 billion, a PE ratio of 43.10, a PEG ratio of 2.51 and a beta of 1.49. The firm’s 50 day moving average price is $70.90 and its two-hundred day moving average price is $66.89.
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, beating 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 analysts’ expectations of $249.48 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.
Planet Fitness 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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