Sei Investments Co. lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 9.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 135,877 shares of the company’s stock after selling 14,852 shares during the period. Sei Investments Co. owned approximately 0.15% of Planet Fitness worth $8,510,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in PLNT. Dorsal Capital Management LP acquired a new position in shares of Planet Fitness during the fourth quarter valued at about $182,500,000. Greenvale Capital LLP raised its holdings in shares of 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 acquiring an additional 1,296,140 shares during the last quarter. Norges Bank acquired a new stake in shares of Planet Fitness in the 4th quarter worth about $65,674,000. Junto Capital Management LP raised its holdings 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 acquiring an additional 543,942 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of 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 acquiring an additional 516,790 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on PLNT shares. Raymond James upped their target price 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. Piper Sandler upped their target price on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Royal Bank of Canada lowered their target price on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Finally, Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $100.00 in a research report on Monday, June 10th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.
Planet Fitness Stock Down 0.3 %
Planet Fitness stock opened at $76.50 on Friday. Planet Fitness, Inc. has a twelve month low of $44.13 and a twelve month high of $79.09. The firm has a 50 day moving average price of $69.89 and a 200-day moving average price of $66.83. The company has a market capitalization of $6.75 billion, a P/E ratio of 43.97, a P/E/G ratio of 2.58 and a beta of 1.49.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share 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 during the quarter, compared to the consensus estimate of $249.48 million. During the same period in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Planet Fitness, Inc. will post 2.43 EPS 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.
See Also
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