Vanguard Group announced in its latest 13F filing with the Securities and Exchange Commission that it increased its holdings in Planet Fitness (NYSE:PLNT – free report ) by 1.2% in the first quarter. The fund purchased an additional 97,823 shares during the period, bringing its holdings to 8,174,617 shares of the company. Vanguard Group holds approximately 9.27% โโof Planet Fitness’ stock, valued at $511,976,000, as of the latest SEC filing.
Other large investors also recently bought and sold shares in the company. Cadian Capital Management LP increased its holdings in Planet Fitness by 9.6% in the fourth quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock, valued at $323,417,000. It purchased an additional 386,861 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Planet Fitness by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 2,592,136 shares of the company’s stock, valued at $162,345,000. It purchased an additional 66,139 shares during the period. Dorsal Capital Management LP acquired a new position in Planet Fitness shares in the fourth quarter, valued at $182.5 million. Point72 Asset Management LP increased its holdings in Planet Fitness by 39.1% during the fourth quarter. Point72 Asset Management LP now holds 1,837,231 shares of the company’s stock, valued at $134,118,000, after purchasing an additional 516,790 shares during the period. Finally, Greenvale Capital LLP increased its holdings in Planet Fitness by 291.3% during the fourth quarter. Greenvale Capital LLP now holds 1,741,140 shares of the company’s stock, valued at $127,103,000, after purchasing an additional 1,296,140 shares during the period. Institutional investors hold 95.53% of the company’s stock.
Analysts Set New Price Targets
PLNT has been the topic of several analyst reports. DA Davidson reaffirmed their “neutral” rating on shares of Planet Fitness with a $62.00 price target in a research report on Friday, June 14th. TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $92.00 in a report on Monday, June 24th. JPMorgan Chase & Co. raised Planet Fitness from a “neutral” rating to an “overweight” rating and increased their price target for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. Robert W. Baird boosted their price target on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Finally, Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and lowered their price target for the company from $80.00 to $70.00 in a report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating, ten have given it a buy rating, and one has given it a strong buy rating. According to MarketBeat data, Planet Fitness currently has an average rating of a “moderate buy” and a consensus price target of $77.64.
Read the latest research report on PLNT
Planet Fitness shares rose 0.4%
NYSE:PLNT opened trading at $74.99 on Friday. Planet Fitness, Inc.’s one-year low is $44.13 and its one-year high is $79.09. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 43.10, a price-to-earnings growth ratio of 2.51 and a beta of 1.49. The stock’s 50-day simple moving average is $70.90 and its 200-day simple moving average is $66.93.
Planet Fitness (NYSE:PLNT – get free report ) announced its quarterly earnings on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a negative return on equity of -140.14%, with a net margin of 13.66%. Revenues for the quarter were $248 million, beating analyst estimates of $249.48 million. In the same quarter last year, the company reported earnings per share of $0.41. Planet Fitness’ quarterly revenues increased 11.6% year over year. Equity analysts expect Planet Fitness to earn $2.43 earnings per share this year.
Planet Fitness Company Profile
(Free report)
Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned and Equipment. The company has franchise operations in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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