First Trust Advisors LP grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 38.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,759 shares of the company’s stock after acquiring an additional 29,163 shares during the quarter. First Trust Advisors LP owned 0.12% of Planet Fitness worth $2,826,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Quantitative Systematic Strategies LLC bought a new stake in Planet Fitness in the third quarter valued at $1,696,000. Davidson Kempner Capital Management LP bought a new stake in Planet Fitness in the second quarter valued at $16,338,000. Lord Abbett & CO. LLC boosted its holdings in Planet Fitness by 36.0% in the second quarter. Lord Abbett & CO. LLC now owns 2,807,699 shares of the company’s stock valued at $65,532,000 after acquiring an additional 742,857 shares in the last quarter. Wasatch Advisors Inc. bought a new stake in Planet Fitness in the second quarter valued at $41,580,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Planet Fitness by 2.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,498 shares of the company’s stock valued at $2,089,000 after buying an additional 2,369 shares in the last quarter.
In other news, CEO Christopher Rondeau sold 60,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $31.98, for a total transaction of $1,918,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Richard L. Moore sold 9,200 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $27.02, for a total value of $248,584.00. Following the transaction, the chief accounting officer now owns 9,200 shares of the company’s stock, valued at $248,584. The disclosure for this sale can be found here. Insiders sold a total of 705,753 shares of company stock valued at $20,773,071 over the last 90 days. 19.87% of the stock is currently owned by corporate insiders.
A number of brokerages have recently commented on PLNT. DA Davidson began coverage on shares of Planet Fitness in a report on Monday, November 20th. They set a “buy” rating on the stock. Jefferies Group reiterated a “buy” rating and issued a $33.00 price target on shares of Planet Fitness in a research note on Friday, November 10th. Cowen reiterated a “buy” rating and issued a $30.00 price target on shares of Planet Fitness in a research note on Friday, November 10th. Bank of America upped their price target on shares of Planet Fitness from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, Imperial Capital boosted their target price on Planet Fitness from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Planet Fitness currently has an average rating of “Buy” and an average price target of $29.60.
Shares of Planet Fitness, Inc. (NYSE:PLNT) traded up $0.62 during trading hours on Thursday, hitting $32.29. The company had a trading volume of 983,211 shares, compared to its average volume of 1,210,646. The company has a market cap of $3,124.01, a P/E ratio of 39.70, a PEG ratio of 2.45 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00. Planet Fitness, Inc. has a 52 week low of $18.32 and a 52 week high of $32.92.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The company had revenue of $97.50 million during the quarter, compared to the consensus estimate of $93.55 million. During the same period in the previous year, the company posted $0.16 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. research analysts predict that Planet Fitness, Inc. will post 0.82 EPS for the current year.
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Planet Fitness Company Profile
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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