Castleark Management LLC cut its holdings in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,550 shares of the company’s stock after selling 2,860 shares during the period. Castleark Management LLC owned about 0.13% of Planet Fitness worth $6,836,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC lifted its stake in Planet Fitness by 58.4% in the third quarter. Global Retirement Partners LLC now owns 852 shares of the company’s stock worth $56,000 after acquiring an additional 314 shares during the period. Captrust Financial Advisors lifted its position in Planet Fitness by 23.0% during the 1st quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after acquiring an additional 219 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Planet Fitness in the 2nd quarter valued at $108,000. PNC Financial Services Group Inc. grew its stake in shares of Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after purchasing an additional 157 shares during the period. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in shares of Planet Fitness during the 3rd quarter valued at about $115,000. Hedge funds and other institutional investors own 94.56% of the company’s stock.
A number of research analysts have weighed in on PLNT shares. Cowen raised their price objective on Planet Fitness from $90.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, February 27th. Stifel Nicolaus increased their price objective on Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, January 13th. Piper Sandler boosted their price target on shares of Planet Fitness from $79.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, December 22nd. Raymond James upped their price target on Planet Fitness from $92.00 to $95.00 and gave the company a “strong-buy” rating in a report on Friday, February 24th. Finally, Robert W. Baird upped their target price on shares of Planet Fitness from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus price target of $93.69.
Shares of Planet Fitness stock opened at $76.70 on Friday. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 66.43, a P/E/G ratio of 1.50 and a beta of 1.30. The stock has a 50-day simple moving average of $81.20 and a 200-day simple moving average of $73.11. Planet Fitness, Inc. has a 52-week low of $54.15 and a 52-week high of $88.31.
Planet Fitness (NYSE:PLNT – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. Planet Fitness had a negative return on equity of 65.39% and a net margin of 10.61%. The firm had revenue of $281.30 million during the quarter, compared to analyst estimates of $271.48 million. During the same period in the prior year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 53.2% compared to the same quarter last year. As a group, equities research analysts predict that Planet Fitness, Inc. will post 2.2 earnings per share for the current year.
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following 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, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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