Pacer Advisors Inc. trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 60.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,661 shares of the company's stock after selling 11,586 shares during the period. Pacer Advisors Inc.'s holdings in Planet Fitness were worth $740,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. First Horizon Advisors Inc. lifted its position in shares of Planet Fitness by 187.6% during the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after purchasing an additional 242 shares in the last quarter. CoreCap Advisors LLC grew its holdings in Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after acquiring an additional 450 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after purchasing an additional 387 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Planet Fitness in the fourth quarter valued at about $57,000. Finally, Friedenthal Financial acquired a new stake in Planet Fitness during the first quarter valued at approximately $76,000. 95.53% of the stock is owned by institutional investors and hedge funds.
Planet Fitness Trading Up 0.4%
PLNT stock traded up $0.50 during mid-day trading on Tuesday, reaching $110.78. 756,601 shares of the stock traded hands, compared to its average volume of 1,490,029. Planet Fitness, Inc. has a 52-week low of $73.70 and a 52-week high of $114.47. The company has a market cap of $9.33 billion, a P/E ratio of 52.33, a P/E/G ratio of 2.41 and a beta of 1.40. The stock's fifty day moving average is $107.40 and its 200-day moving average is $101.84.
Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The firm had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. During the same period in the prior year, the company posted $0.53 earnings per share. Planet Fitness's quarterly revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Canaccord Genuity Group set a $126.00 target price on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, June 12th. Morgan Stanley boosted their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Macquarie reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Guggenheim reiterated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness currently has an average rating of "Moderate Buy" and an average target price of $106.63.
Read Our Latest Stock Analysis on Planet Fitness
Planet Fitness Company Profile
(
Free Report)
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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