Metropolitan Life Insurance Co. NY lifted its position in Planet Fitness Inc (NYSE:PLNT) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,462 shares of the company’s stock after acquiring an additional 1,854 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Planet Fitness were worth $1,251,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc lifted its holdings in Planet Fitness by 47.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock valued at $230,000 after buying an additional 1,706 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Planet Fitness during the 1st quarter valued at about $253,000. Segall Bryant & Hamill LLC bought a new stake in Planet Fitness during the 1st quarter valued at about $255,000. Koch Industries Inc. bought a new stake in Planet Fitness during the 1st quarter valued at about $272,000. Finally, SG Americas Securities LLC lifted its holdings in Planet Fitness by 138.7% during the 1st quarter. SG Americas Securities LLC now owns 7,871 shares of the company’s stock valued at $297,000 after buying an additional 4,574 shares in the last quarter. Hedge funds and other institutional investors own 92.40% of the company’s stock.
NYSE PLNT opened at $50.27 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.05 and a debt-to-equity ratio of -7.61. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 59.85, a price-to-earnings-growth ratio of 2.29 and a beta of 0.55. Planet Fitness Inc has a one year low of $25.55 and a one year high of $53.41.
Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, August 9th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $140.55 million for the quarter, compared to the consensus estimate of $130.99 million. Planet Fitness had a net margin of 11.68% and a negative return on equity of 82.89%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. equities research analysts expect that Planet Fitness Inc will post 1.13 EPS for the current year.
In other Planet Fitness news, CFO Dorvin D. Lively sold 105,127 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $51.23, for a total transaction of $5,385,656.21. Following the transaction, the chief financial officer now owns 41,874 shares of the company’s stock, valued at approximately $2,145,205.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dorvin D. Lively sold 31,893 shares of Planet Fitness stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $50.82, for a total transaction of $1,620,802.26. Following the completion of the transaction, the chief financial officer now directly owns 31,893 shares in the company, valued at approximately $1,620,802.26. The disclosure for this sale can be found here. Insiders have sold a total of 538,672 shares of company stock worth $26,826,756 in the last three months. Insiders own 19.87% of the company’s stock.
A number of brokerages recently weighed in on PLNT. ValuEngine upgraded shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. TheStreet upgraded shares of Planet Fitness from a “c-” rating to a “b” rating in a report on Monday, August 6th. Robert W. Baird lifted their price objective on shares of Planet Fitness from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, June 25th. Bank of America raised their target price on shares of Planet Fitness from $45.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, July 12th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $51.00 target price on shares of Planet Fitness in a research report on Wednesday, July 11th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $49.58.
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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