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.
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