Pallas Capital Advisors LLC reduced its holdings in Planet Fitness, Inc. (NYSE: PLNT – Get Rating) by 69.3% in the fourth quarter, according to its latest filing with the Securities & Exchange Commission. The institutional investor held 3,757 shares of the company after selling 8,500 shares during the period. Pallas Capital Advisors LLC’s holdings in Planet Fitness were worth $298,000 when it last filed with the Securities & Exchange Commission.
A number of other large investors have also recently changed their positions in PLNT. PNC Financial Services Group Inc. increased its equity stake in Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company worth $112,000 after purchasing an additional 157 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its equity stake in Planet Fitness by 801.5% in Q1. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company worth $155,000 after purchasing an additional 1,635 shares during the period. MetLife Investment Management LLC purchased a new stock position in Planet Fitness during Q1 for a value of approximately $357,000. BlackRock Inc. increased its stake in Planet Fitness by 34.8% in Q1. BlackRock Inc. now owns 7,184,140 shares of the company valued at $606,915,000 after purchasing an additional 1,852,867 shares last quarter. Finally, Vontobel Holding SA acquired during the 1st quarter a new stake in Planet Fitness valued at approximately $919,000. 94.56% of the shares are held by hedge funds and other institutional investors.
Wall Street analysts predict growth
A number of equity research analysts have weighed in on the stock recently. Stifel Nicolaus raised his price target on Planet Fitness shares from $82.00 to $93.00 and gave the company a “buy” rating in a Friday, January 13 report. Robert W. Baird raised his price target on Planet Fitness shares from $100.00 to $105.00 and gave the company an “outperform” rating in a Friday, Feb. 24 report. StockNews.com began covering Planet Fitness shares in a report on Thursday, March 16. They issued a “hold” rating for the company. Morgan Stanley raised its price target on Planet Fitness shares from $92.00 to $93.00 and gave the company an “overweight” rating in a Monday, Feb. 27, report. Finally, Raymond James raised his price target on Planet Fitness stock from $92.00 to $95.00 and gave the company a “Strong Buy” rating in a Friday, Feb. 24 report. Four investment analysts gave the stock a hold rating, eight gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.
Planet Fitness is trading down 1.7%
NYSE: PLNT opened at $76.36 on Tuesday. The company has a market capitalization of $6.83 billion, a PE ratio of 65.26, a P/E/G ratio of 1.44 and a beta of 1.30. Planet Fitness, Inc. has a 12-month low of $54.15 and a 12-month high of $88.31. The company’s 50-day moving average is $79.37 and its two-hundred-day moving average is $73.76.
Planet Fitness (NYSE:PLNT – Get Rating) last released its results on Thursday, February 23. The company reported earnings per share of $0.53 for the quarter, beating the consensus estimate of $0.47 by $0.06. The company posted revenue of $281.30 million for the quarter, versus a consensus estimate of $271.48 million. Planet Fitness had a net margin of 10.61% and a negative return on equity of 65.39%. Planet Fitness revenue increased 53.2% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $0.26. As a group, analysts expect Planet Fitness, Inc. to post EPS of 2.2 for the current fiscal year.
About Planet Fitness
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Planet Fitness, Inc is engaged in the operation and franchise of fitness centers. It operates through the following segments: Franchise, Company-Owned Stores and Equipment. The Franchise segment includes activities related to the Company’s franchise operations in the United States, Puerto Rico, Canada, Dominican Republic, Panama, Mexico and Australia.
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