Posted by admin on Jul 4th, 2022
Spire Wealth Management cut its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 28.0% in the 1st quarter, Holdings Channel reports. The firm owned 2,916 shares of the company’s stock after selling 1,133 shares during the quarter. Spire Wealth Management’s holdings in Planet Fitness were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of PLNT. Alliancebernstein L.P. grew its stake in shares of Planet Fitness by 37.0% in the fourth quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock worth $251,075,000 after purchasing an additional 748,189 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Planet Fitness by 79.2% during the 4th quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock worth $174,825,000 after acquiring an additional 846,128 shares in the last quarter. Artemis Investment Management LLP boosted its position in shares of Planet Fitness by 225.3% in the 4th quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock valued at $144,765,000 after purchasing an additional 1,108,100 shares during the period. Invesco Ltd. lifted its stake in Planet Fitness by 36.9% during the fourth quarter. Invesco Ltd. now owns 1,223,658 shares of the company’s stock valued at $110,839,000 after buying an additional 329,902 shares in the last quarter. Finally, State Street Corp boosted its stake in Planet Fitness by 1.0% in the 4th quarter. State Street Corp now owns 1,202,142 shares of the company’s stock worth $108,890,000 after purchasing an additional 11,745 shares during the period. 93.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Planet Fitness stock opened at $69.29 on Monday. The firm has a fifty day moving average of $70.63 and a two-hundred day moving average of $80.97. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 108.27, a PEG ratio of 1.24 and a beta of 1.14. Planet Fitness, Inc. has a 52 week low of $61.11 and a 52 week high of $99.60.
Planet Fitness (NYSE:PLNT – Get Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Planet Fitness had a net margin of 8.11% and a negative return on equity of 16.39%. The business had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $190.44 million. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 66.8% on a year-over-year basis. On average, research analysts forecast that Planet Fitness, Inc. will post 1.55 earnings per share for the current fiscal year.
A number of research analysts have commented on the company. BMO Capital Markets lowered their target price on Planet Fitness from $96.00 to $88.00 in a research note on Wednesday, May 11th. Piper Sandler reduced their target price on shares of Planet Fitness from $87.00 to $72.00 in a research note on Wednesday, May 11th. Evercore ISI began coverage on shares of Planet Fitness in a research report on Monday, March 14th. They issued an “outperform” rating and a $130.00 target price for the company. DA Davidson lowered their target price on shares of Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. Finally, StockNews.com initiated coverage on shares of Planet Fitness in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $98.91.
About Planet Fitness (Get Rating)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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