Principal Financial Group Inc. grew its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 324,737 shares of the company’s stock after purchasing an additional 2,443 shares during the quarter. Principal Financial Group Inc. owned about 0.37% of Planet Fitness worth $23,706,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in PLNT. Cadian Capital Management LP grew its holdings in Planet Fitness by 164.7% during the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock worth $198,860,000 after acquiring an additional 2,516,007 shares during the last quarter. Hawk Ridge Capital Management LP acquired a new stake in shares of Planet Fitness in the third quarter valued at approximately $29,476,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Planet Fitness in the third quarter valued at approximately $25,133,000. Sequoia Financial Advisors LLC bought a new position in Planet Fitness in the 3rd quarter worth approximately $24,443,000. Finally, Triodos Investment Management BV acquired a new position in Planet Fitness during the 3rd quarter worth $19,672,000. Institutional investors own 95.53% of the company’s stock.
Planet Fitness Price Performance
PLNT opened at $63.27 on Monday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 36.36, a P/E/G ratio of 2.12 and a beta of 1.37. The business’s 50-day moving average price is $61.63 and its two-hundred day moving average price is $65.82. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $75.86.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) 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 business had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same quarter last year, the firm earned $0.41 EPS. Planet Fitness’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
PLNT has been the subject of a number of recent research reports. DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research report on Thursday, May 9th. 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 report on Friday, May 10th. Robert W. Baird raised their target price on shares of Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Royal Bank of Canada dropped their price target on shares of Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.86.
Read Our Latest Research Report on PLNT
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.
See Also
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