Graham Capital Management L.P. purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 19,187 shares of the company’s stock, valued at approximately $944,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PLNT. PNC Financial Services Group Inc. grew its holdings in shares of Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after buying an additional 157 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Planet Fitness by 801.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after purchasing an additional 1,635 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Planet Fitness during the 1st quarter worth approximately $357,000. BlackRock Inc. increased its stake in shares of Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after purchasing an additional 1,852,867 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new position in shares of Planet Fitness during the 1st quarter worth approximately $919,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Planet Fitness Stock Performance
Shares of Planet Fitness stock opened at $60.95 on Friday. The firm has a market cap of $5.37 billion, a PE ratio of 37.62, a price-to-earnings-growth ratio of 1.26 and a beta of 1.40. The firm’s 50-day simple moving average is $68.39 and its 200-day simple moving average is $62.99. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $84.48.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. On average, equities analysts predict that Planet Fitness, Inc. will post 2.49 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have commented on PLNT. DA Davidson reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research note on Monday, February 5th. Morgan Stanley lowered their target price on shares of Planet Fitness from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Piper Sandler boosted their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.00.
View Our Latest Stock Report on PLNT
Planet Fitness 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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
Further Reading
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