Wasatch Advisors Inc. decreased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,772,573 shares of the company’s stock after selling 7,952 shares during the quarter. Wasatch Advisors Inc. owned approximately 1.80% of Planet Fitness worth $61,384,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in PLNT. Investec Asset Management LTD acquired a new stake in Planet Fitness in the 3rd quarter valued at $115,312,000. BlackRock Inc. boosted its stake in Planet Fitness by 108.4% in the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after purchasing an additional 2,496,984 shares in the last quarter. Junto Capital Management LP acquired a new position in Planet Fitness in the second quarter worth $37,227,000. Vanguard Group Inc. boosted its stake in Planet Fitness by 30.2% in the second quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock worth $151,286,000 after purchasing an additional 1,504,593 shares in the last quarter. Finally, Daruma Capital Management LLC boosted its stake in Planet Fitness by 91.6% in the second quarter. Daruma Capital Management LLC now owns 2,910,653 shares of the company’s stock worth $67,935,000 after purchasing an additional 1,391,148 shares in the last quarter.
PLNT has been the topic of a number of recent analyst reports. BidaskClub raised Planet Fitness from a “hold” rating to a “buy” rating in a research note on Friday, September 22nd. Robert W. Baird reissued an “outperform” rating and issued a $31.00 price objective (up previously from $28.00) on shares of Planet Fitness in a research note on Wednesday, October 4th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Wednesday, October 11th. Jefferies Group reissued a “buy” rating and issued a $29.00 price objective on shares of Planet Fitness in a research note on Thursday, October 19th. Finally, Bank of America boosted their price objective on Planet Fitness from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Planet Fitness currently has an average rating of “Buy” and a consensus target price of $32.88.
In other news, CEO Christopher Rondeau sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $32.54, for a total transaction of $1,952,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Richard L. Moore sold 364,160 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $29.52, for a total value of $10,750,003.20. Following the sale, the chief accounting officer now owns 204,204 shares of the company’s stock, valued at approximately $6,028,102.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,134,427 shares of company stock valued at $34,941,422. 19.87% of the stock is currently owned by corporate insiders.
Shares of Planet Fitness, Inc. (NYSE:PLNT) opened at $31.88 on Wednesday. The firm has a market capitalization of $3,140.00 and a price-to-earnings ratio of 47.58. Planet Fitness, Inc. has a 52-week low of $18.32 and a 52-week high of $35.03. The company has a debt-to-equity ratio of -5.00, a quick ratio of 1.56 and a current ratio of 1.57.
Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $97.50 million during the quarter, compared to the consensus estimate of $93.55 million. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. research analysts forecast that Planet Fitness, Inc. will post 0.82 EPS for the current year.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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