Norges Bank acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 899,639 shares of the company’s stock, valued at approximately $65,674,000. Norges Bank owned 1.02% of Planet Fitness at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PLNT. American Century Companies Inc. grew its position in Planet Fitness by 66.8% in the 3rd quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock valued at $43,166,000 after acquiring an additional 351,401 shares in the last quarter. Oak Thistle LLC acquired a new position in Planet Fitness in the 4th quarter valued at about $389,000. Graham Capital Management L.P. acquired a new position in Planet Fitness in the 3rd quarter valued at about $944,000. Pacer Advisors Inc. grew its position in Planet Fitness by 80.4% in the 4th quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock valued at $937,000 after acquiring an additional 5,719 shares in the last quarter. Finally, Diversified Trust Co grew its position in Planet Fitness by 3.4% in the 4th quarter. Diversified Trust Co now owns 20,256 shares of the company’s stock valued at $1,479,000 after acquiring an additional 659 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.
Planet Fitness Stock Up 0.2 %
PLNT stock opened at $63.54 on Tuesday. The business has a 50 day moving average price of $61.92 and a 200 day moving average price of $66.05. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 2.13 and a beta of 1.37. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data 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% and a net margin of 13.66%. The company had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.43 EPS for the current year.
Analyst Ratings Changes
PLNT has been the subject of several research reports. DA Davidson reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research report on Thursday, May 9th. Robert W. Baird boosted their price objective on Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $80.00 to $70.00 in a research report on Friday, May 10th. Finally, Raymond James boosted their price objective on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 10th. Six equities research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.86.
View Our Latest Stock Report on Planet Fitness
Planet Fitness Company 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.
Further Reading
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