Brandywine Global Investment Management LLC bought a new position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 28,153 shares of the company’s stock, valued at approximately $1,385,000.
Several other institutional investors and hedge funds have also recently modified their holdings of PLNT. Texas Permanent School Fund Corp purchased a new position in Planet Fitness during the 2nd quarter valued at about $5,044,000. Geode Capital Management LLC increased its stake in Planet Fitness by 8.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,245,654 shares of the company’s stock valued at $84,007,000 after purchasing an additional 96,199 shares in the last quarter. Triodos Investment Management BV bought a new stake in Planet Fitness during the 3rd quarter valued at about $19,672,000. South Dakota Investment Council bought a new stake in Planet Fitness during the 3rd quarter valued at about $1,275,000. Finally, BlackRock Inc. increased its stake in Planet Fitness by 52.2% during the 2nd quarter. BlackRock Inc. now owns 12,057,346 shares of the company’s stock valued at $813,147,000 after purchasing an additional 4,133,786 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Planet Fitness
In other Planet Fitness news, Director Christopher Rondeau sold 1,000,000 shares of Planet Fitness stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $66.55, for a total transaction of $66,550,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Planet Fitness news, Director Christopher Rondeau sold 1,000,000 shares of Planet Fitness stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $66.55, for a total transaction of $66,550,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Craig R. Benson bought 10,000 shares of the stock in a transaction dated Monday, December 11th. The stock was bought at an average cost of $68.15 per share, for a total transaction of $681,500.00. Following the acquisition, the chief executive officer now directly owns 35,000 shares of the company’s stock, valued at approximately $2,385,250. The disclosure for this purchase can be found here. Insiders own 4.95% of the company’s stock.
Planet Fitness Trading Up 2.1 %
PLNT opened at $63.71 on Monday. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 1.28 and a beta of 1.44. The company’s 50 day moving average is $70.73 and its 200 day moving average is $62.71. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $84.48.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The business had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts predict that Planet Fitness, Inc. will post 2.48 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have weighed in on PLNT. Royal Bank of Canada raised their price objective on shares of Planet Fitness from $68.00 to $74.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Stifel Nicolaus reduced their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler lifted their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. DA Davidson reiterated a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a research note on Monday, February 5th. Finally, StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Friday, January 12th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.69.
Check Out Our Latest 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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