Verition Fund Management LLC acquired a new stake in Planet Fitness Inc (NYSE:PLNT) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,409 shares of the company’s stock, valued at approximately $206,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of PLNT. Aperio Group LLC boosted its stake in Planet Fitness by 16.0% in the 1st quarter. Aperio Group LLC now owns 14,814 shares of the company’s stock worth $721,000 after purchasing an additional 2,040 shares in the last quarter. Arizona State Retirement System bought a new position in Planet Fitness in the first quarter worth approximately $935,000. Bank of New York Mellon Corp raised its position in Planet Fitness by 13.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,330,751 shares of the company’s stock valued at $64,806,000 after purchasing an additional 153,387 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Planet Fitness by 2.0% in the 1st quarter. Russell Investments Group Ltd. now owns 250,830 shares of the company’s stock worth $12,202,000 after buying an additional 4,850 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Planet Fitness by 671.2% during the 1st quarter. First Trust Advisors LP now owns 69,813 shares of the company’s stock worth $3,400,000 after buying an additional 60,761 shares in the last quarter.
PLNT has been the subject of several recent analyst reports. Robert W. Baird upped their target price on Planet Fitness from $65.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Zacks Investment Research upgraded Planet Fitness from a “sell” rating to a “hold” rating and set a $56.00 price target for the company in a research report on Friday, July 31st. Cowen lifted their target price on shares of Planet Fitness from $65.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. cut their target price on Planet Fitness from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Finally, Berenberg Bank reiterated a “hold” rating and issued a $56.00 price objective on shares of Planet Fitness in a report on Wednesday, July 8th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Planet Fitness has a consensus rating of “Buy” and a consensus price target of $72.29.
Shares of NYSE:PLNT opened at $61.00 on Wednesday. The firm has a 50 day simple moving average of $56.78 and a 200-day simple moving average of $57.78. Planet Fitness Inc has a twelve month low of $23.77 and a twelve month high of $88.77. The company has a market capitalization of $5.28 billion, a PE ratio of 145.24, a P/E/G ratio of 15.33 and a beta of 1.16.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). The company had revenue of $40.23 million during the quarter, compared to analyst estimates of $39.67 million. Planet Fitness had a net margin of 6.63% and a negative return on equity of 9.31%. The business’s revenue was down 77.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities research analysts expect that Planet Fitness Inc will post 0.26 EPS for the current fiscal year.
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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