SG Americas Securities LLC grew its position in Planet Fitness Inc (NYSE:PLNT) by 19.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,804 shares of the company’s stock after acquiring an additional 13,165 shares during the quarter. SG Americas Securities LLC owned about 0.09% of Planet Fitness worth $5,553,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Planet Fitness by 3.4% during the third quarter. Vanguard Group Inc. now owns 8,597,408 shares of the company’s stock worth $464,518,000 after purchasing an additional 280,726 shares during the period. Vanguard Group Inc lifted its holdings in shares of Planet Fitness by 3.4% during the third quarter. Vanguard Group Inc now owns 8,597,408 shares of the company’s stock worth $464,518,000 after purchasing an additional 280,726 shares during the period. FMR LLC lifted its holdings in shares of Planet Fitness by 57.7% during the fourth quarter. FMR LLC now owns 7,135,122 shares of the company’s stock worth $382,585,000 after purchasing an additional 2,610,693 shares during the period. BlackRock Inc. lifted its holdings in shares of Planet Fitness by 4.3% during the fourth quarter. BlackRock Inc. now owns 6,386,708 shares of the company’s stock worth $342,456,000 after purchasing an additional 265,922 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Planet Fitness by 10.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,283,796 shares of the company’s stock worth $122,457,000 after purchasing an additional 210,503 shares during the period. 95.87% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Dorvin D. Lively sold 100,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $63.52, for a total value of $6,352,000.00. Following the completion of the transaction, the chief financial officer now owns 98,883 shares in the company, valued at $6,281,048.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Christopher Rondeau sold 15,500 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $60.53, for a total value of $938,215.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 460,291 shares of company stock valued at $29,450,058. Company insiders own 14.52% of the company’s stock.
Several brokerages recently weighed in on PLNT. Cowen reaffirmed an “average” rating and set a $85.00 price target (up from $65.00) on shares of Planet Fitness in a report on Monday, April 29th. Robert W. Baird increased their price target on Planet Fitness from $70.00 to $75.00 and gave the stock a “positive” rating in a report on Tuesday, April 2nd. Zacks Investment Research downgraded Planet Fitness from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Jefferies Financial Group increased their price target on Planet Fitness from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Macquarie raised Planet Fitness from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $64.00 to $85.00 in a report on Tuesday, May 7th. Four investment 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. The stock presently has an average rating of “Buy” and an average target price of $67.57.
NYSE:PLNT traded up $0.15 during trading hours on Friday, hitting $74.56. The company’s stock had a trading volume of 1,026,000 shares, compared to its average volume of 1,422,207. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 61.11, a PEG ratio of 2.29 and a beta of 0.76. Planet Fitness Inc has a 52-week low of $38.46 and a 52-week high of $81.76.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Planet Fitness had a negative return on equity of 53.73% and a net margin of 15.91%. The firm had revenue of $148.82 million during the quarter, compared to analysts’ expectations of $153.41 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. Planet Fitness’s revenue was up 22.7% compared to the same quarter last year. Sell-side analysts anticipate that Planet Fitness Inc will post 1.55 EPS for the current fiscal year.
Planet Fitness Company 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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