Investec Asset Management PTY Ltd lessened its stake in Planet Fitness Inc (NYSE:PLNT) by 49.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 45,396 shares of the company’s stock after selling 44,106 shares during the period. Planet Fitness comprises approximately 1.4% of Investec Asset Management PTY Ltd’s portfolio, making the stock its 11th largest position. Investec Asset Management PTY Ltd’s holdings in Planet Fitness were worth $2,408,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of PLNT. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Planet Fitness by 209.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 208,800 shares of the company’s stock worth $11,025,000 after buying an additional 141,300 shares during the period. Prudential Financial Inc. grew its position in Planet Fitness by 2.2% during the fourth quarter. Prudential Financial Inc. now owns 9,627 shares of the company’s stock worth $516,000 after buying an additional 203 shares during the period. Virginia Retirement Systems ET AL acquired a new position in Planet Fitness during the fourth quarter worth about $735,000. Canada Pension Plan Investment Board acquired a new position in Planet Fitness during the fourth quarter worth about $9,067,000. Finally, Waratah Capital Advisors Ltd. grew its position in Planet Fitness by 8.1% during the fourth quarter. Waratah Capital Advisors Ltd. now owns 621,137 shares of the company’s stock worth $33,305,000 after buying an additional 46,791 shares during the period. Hedge funds and other institutional investors own 90.59% of the company’s stock.
In other news, CEO Christopher Rondeau sold 80,000 shares of Planet Fitness stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.18, for a total value of $5,054,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Berg sold 6,291 shares of Planet Fitness stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $61.73, for a total transaction of $388,343.43. Following the completion of the transaction, the director now directly owns 6,615 shares of the company’s stock, valued at $408,343.95. The disclosure for this sale can be found here. Insiders sold a total of 166,291 shares of company stock valued at $10,289,238 over the last ninety days. Company insiders own 16.38% of the company’s stock.
PLNT has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, January 1st. ValuEngine lowered shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Bank of America reiterated a “buy” rating and issued a $72.00 price target (up from $68.00) on shares of Planet Fitness in a research report on Thursday, February 28th. Roth Capital increased their price target on shares of Planet Fitness from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Finally, DA Davidson increased their price target on shares of Planet Fitness to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $58.36.
NYSE:PLNT opened at $64.04 on Friday. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 52.49, a P/E/G ratio of 2.08 and a beta of 0.73. Planet Fitness Inc has a fifty-two week low of $35.92 and a fifty-two week high of $64.50.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. The business had revenue of $174.40 million during the quarter, compared to analyst estimates of $173.76 million. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The business’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. As a group, equities analysts expect that Planet Fitness Inc will post 1.54 EPS for the current year.
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Planet Fitness Company Profile
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.
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