Frontier Capital Management Co. LLC trimmed its stake in shares of Planet Fitness Inc (NYSE:PLNT) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 585,181 shares of the company’s stock after selling 55,878 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.60% of Planet Fitness worth $31,377,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Planet Fitness by 3.4% during the third quarter. Vanguard Group Inc. now owns 8,597,408 shares of the company’s stock worth $464,518,000 after acquiring an additional 280,726 shares in the last quarter. Kendall Capital Management bought a new position in shares of Planet Fitness in the third quarter worth about $249,000. Vanguard Group Inc increased its stake in shares of Planet Fitness by 3.4% in the third quarter. Vanguard Group Inc now owns 8,597,408 shares of the company’s stock worth $464,518,000 after purchasing an additional 280,726 shares during the period. Raymond James & Associates increased its stake in shares of Planet Fitness by 7.8% in the second quarter. Raymond James & Associates now owns 73,865 shares of the company’s stock worth $3,246,000 after purchasing an additional 5,351 shares during the period. Finally, Morgan Stanley increased its stake in shares of Planet Fitness by 75.6% in the third quarter. Morgan Stanley now owns 563,195 shares of the company’s stock worth $30,429,000 after purchasing an additional 242,532 shares during the period. Institutional investors and hedge funds own 90.82% of the company’s stock.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, January 1st. Bank of America reissued a “neutral” rating and set a $68.00 target price (up from $62.00) on shares of Planet Fitness in a research report on Thursday, December 6th. Macquarie downgraded Planet Fitness from an “outperform” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research report on Monday, November 12th. Imperial Capital lifted their price objective on Planet Fitness from $45.00 to $55.00 and gave the company an “inline” rating in a report on Friday, November 9th. Finally, DA Davidson set a $58.00 price objective on Planet Fitness and gave the company a “buy” rating in a report on Tuesday, October 16th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $52.79.
Shares of PLNT stock opened at $57.99 on Friday. Planet Fitness Inc has a 12-month low of $28.98 and a 12-month high of $59.52. The firm has a market capitalization of $5.66 billion, a PE ratio of 51.32, a PEG ratio of 2.07 and a beta of 0.73.
Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. The firm had revenue of $136.66 million during the quarter, compared to analyst estimates of $126.10 million. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The company’s revenue for the quarter was up 40.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. Sell-side analysts expect that Planet Fitness Inc will post 1.2 earnings per share for the current fiscal year.
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About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
Further Reading: Net Margin
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