Credit Suisse AG lowered its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 83,004 shares of the company’s stock after selling 17,724 shares during the quarter. Credit Suisse AG owned approximately 0.09% of Planet Fitness worth $4,785,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in PLNT. PNC Financial Services Group Inc. grew its stake in shares of Planet Fitness by 13.4% during the first 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. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after purchasing an additional 1,635 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Planet Fitness during the first quarter worth $357,000. BlackRock Inc. grew its stake in shares of Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after purchasing an additional 1,852,867 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Planet Fitness during the first quarter worth $919,000. Institutional investors own 94.56% of the company’s stock.
A number of equities research analysts recently commented on PLNT shares. DA Davidson reaffirmed a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research note on Friday. Piper Sandler boosted their target price on Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, December 22nd. Robert W. Baird boosted their target price on Planet Fitness from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Friday. Cowen boosted their target price on Planet Fitness from $90.00 to $92.00 in a research note on Monday. Finally, Stifel Nicolaus boosted their target price on Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a research note on Friday, January 13th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $93.62.
PLNT opened at $80.49 on Tuesday. Planet Fitness, Inc. has a 52-week low of $54.15 and a 52-week high of $88.31. The firm has a market capitalization of $7.21 billion, a PE ratio of 68.79, a PEG ratio of 1.50 and a beta of 1.26. The business’s 50-day simple moving average is $80.82 and its 200 day simple moving average is $72.90.
Planet Fitness (NYSE:PLNT – Get Rating) last released its earnings results 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 64.13% and a net margin of 10.61%. The business had revenue of $281.30 million for the quarter, compared to analyst estimates of $271.48 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Planet Fitness’s revenue was up 53.2% on a year-over-year basis. On average, research analysts forecast 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Planet Fitness, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Planet Fitness wasn’t on the list.
While Planet Fitness currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
/cloudfront-us-east-1.images.arcpublishing.com/gray/RYFHOJAQ4FDA7NJPWZPLCZVO64.jpg)
PEORIA (25News Now) - Athletes endured a grueling workout this morning to honor the life and sacrifice of Michael Murphy, a Navy SEAL who was killed in Afghanis
A state-of-the-art, 6,808-square-foot fitness center has opened at the Delaware National Guard Bethany Beach Training Site off Route 1. Guard members and office
Becoming a fitness educator has never been easier. If you have a camera and an above-average physique, you can post fitness advice on social media, claiming to
Tom Pennington/Getty Images Swimming is an exhilarating activity, but did you know that it’s also one of the healthiest forms of exercise out there? Whet
/cloudfront-us-east-1.images.arcpublishing.com/gray/JUUNINU27JGSDP7MEYNX5BA3IE.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/3COVKQDNCFA3RNY4HTHB22YTIQ.jpg)