Allianz Asset Management GmbH reduced its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 46.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,850 shares of the company’s stock after selling 17,150 shares during the quarter. Allianz Asset Management GmbH’s holdings in Planet Fitness were worth $1,449,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cadian Capital Management LP grew its holdings in shares of Planet Fitness by 164.7% during the third quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock valued at $198,860,000 after buying an additional 2,516,007 shares during the last quarter. Norges Bank purchased a new stake in shares of Planet Fitness during the fourth quarter valued at $65,674,000. Hawk Ridge Capital Management LP purchased a new stake in shares of Planet Fitness during the third quarter valued at $29,476,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Planet Fitness during the third quarter valued at $25,133,000. Finally, American Century Companies Inc. grew its holdings in shares of Planet Fitness by 66.8% during the third quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock valued at $43,166,000 after buying an additional 351,401 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.
Planet Fitness Price Performance
Planet Fitness stock opened at $68.07 on Monday. The firm has a 50 day simple moving average of $62.68 and a 200-day simple moving average of $66.00. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $75.86. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 39.12, a price-to-earnings-growth ratio of 2.29 and a beta of 1.43.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. During the same quarter in the prior year, the company posted $0.41 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts expect that Planet Fitness, Inc. will post 2.42 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on PLNT. Robert W. Baird boosted their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. Royal Bank of Canada decreased their target price on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, May 10th. Stifel Nicolaus downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and decreased their target price for the company from $80.00 to $70.00 in a research report on Friday, May 10th. Raymond James boosted their target price on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Finally, StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $71.86.
Read Our Latest Stock Analysis on PLNT
Planet Fitness Profile
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 Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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