Vanguard Group Inc. lifted its position in Planet Fitness Inc (NYSE:PLNT) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,597,408 shares of the company’s stock after buying an additional 280,726 shares during the quarter. Vanguard Group Inc. owned approximately 8.81% of Planet Fitness worth $464,518,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Morgan Stanley increased its holdings in Planet Fitness by 75.6% during the 3rd 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. Legal & General Group Plc boosted its position in shares of Planet Fitness by 8.3% during the 3rd quarter. Legal & General Group Plc now owns 31,861 shares of the company’s stock worth $1,722,000 after acquiring an additional 2,454 shares in the last quarter. Kepos Capital LP acquired a new position in shares of Planet Fitness during the 3rd quarter worth about $7,051,000. Rehmann Capital Advisory Group boosted its position in shares of Planet Fitness by 5,168.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 131,076 shares of the company’s stock worth $2,426,000 after acquiring an additional 128,588 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of Planet Fitness during the 3rd quarter worth about $575,000. Hedge funds and other institutional investors own 90.66% of the company’s stock.
Planet Fitness stock opened at $54.92 on Monday. Planet Fitness Inc has a twelve month low of $28.98 and a twelve month high of $58.50. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 65.38, a P/E/G ratio of 1.92 and a beta of 0.74.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Planet Fitness had a negative return on equity of 95.97% and a net margin of 11.22%. The company had revenue of $136.66 million during the quarter, compared to analysts’ expectations of $126.10 million. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis. Equities analysts predict that Planet Fitness Inc will post 1.2 earnings per share for the current fiscal year.
PLNT has been the subject of several analyst reports. Guggenheim upped their price objective on Planet Fitness from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. DA Davidson set a $58.00 target price on Planet Fitness and gave the company a “buy” rating in a research report on Tuesday, October 16th. Zacks Investment Research cut Planet Fitness from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Bank of America upped their target price on Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, November 7th. Finally, Imperial Capital upped their target price on Planet Fitness from $45.00 to $55.00 and gave the company an “inline” rating in a research report on Friday, November 9th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $52.79.
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Planet Fitness 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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