Bluestein R H & Co. bought a new stake in shares of Planet Fitness (NYSE:PLNT) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,500 shares of the company’s stock, valued at approximately $472,000.
A number of other institutional investors and hedge funds have also modified their holdings of PLNT. Carillon Tower Advisers Inc. purchased a new position in shares of Planet Fitness in the 4th quarter worth $81,176,000. Waratah Capital Advisors Ltd. purchased a new position in shares of Planet Fitness in the 1st quarter worth $45,913,000. Bamco Inc. NY purchased a new position in shares of Planet Fitness in the 1st quarter worth $22,662,000. Investec Asset Management LTD boosted its stake in shares of Planet Fitness by 13.2% in the 4th quarter. Investec Asset Management LTD now owns 4,838,749 shares of the company’s stock worth $167,566,000 after buying an additional 564,783 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Planet Fitness by 96.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 611,085 shares of the company’s stock worth $21,162,000 after buying an additional 300,664 shares during the last quarter. Institutional investors and hedge funds own 96.74% of the company’s stock.
A number of equities analysts have recently issued reports on PLNT shares. Zacks Investment Research downgraded Planet Fitness from a “buy” rating to a “hold” rating in a research note on Friday, May 11th. DA Davidson set a $45.00 price target on Planet Fitness and gave the stock a “buy” rating in a research note on Monday, April 23rd. Roth Capital set a $41.00 price target on Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, March 1st. Bank of America raised their price target on Planet Fitness from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Guggenheim restated a “buy” rating on shares of Planet Fitness in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $39.88.
Shares of Planet Fitness stock opened at $38.86 on Friday. Planet Fitness has a one year low of $21.03 and a one year high of $41.67. The firm has a market capitalization of $3.83 billion, a P/E ratio of 46.26, a P/E/G ratio of 1.69 and a beta of 0.53. The company has a current ratio of 1.74, a quick ratio of 1.70 and a debt-to-equity ratio of -5.68.
Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, May 8th. The company reported $0.27 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.27. Planet Fitness had a negative return on equity of 64.81% and a net margin of 9.60%. The company had revenue of $121.30 million for the quarter, compared to analysts’ expectations of $115.75 million. During the same period last year, the firm earned $0.19 EPS. Planet Fitness’s revenue for the quarter was up 33.2% compared to the same quarter last year. analysts forecast that Planet Fitness will post 1.18 earnings per share for the current year.
Planet Fitness declared that its Board of Directors has approved a share buyback program on Thursday, February 22nd that authorizes the company to repurchase $80.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
Planet Fitness Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It 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, the Dominican Republic, and Panama.
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