Price T Rowe Associates Inc. MD boosted its stake in shares of Planet Fitness Inc (NYSE:PLNT) by 22.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,085 shares of the company’s stock after buying an additional 3,302 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Planet Fitness were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of Planet Fitness by 157.1% in the 2nd quarter. Bank of Montreal Can now owns 486 shares of the company’s stock valued at $35,000 after acquiring an additional 297 shares during the period. Captrust Financial Advisors lifted its position in shares of Planet Fitness by 298.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock worth $74,000 after buying an additional 766 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Planet Fitness in the 2nd quarter worth about $80,000. Steward Partners Investment Advisory LLC bought a new stake in Planet Fitness in the 2nd quarter valued at about $94,000. Finally, Advisory Services Network LLC bought a new stake in Planet Fitness in the 2nd quarter valued at about $120,000. Institutional investors and hedge funds own 88.83% of the company’s stock.
Several equities analysts have recently issued reports on the stock. ValuEngine cut shares of Planet Fitness from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Imperial Capital reiterated an “in-line” rating and issued a $72.50 target price (up from $55.00) on shares of Planet Fitness in a research note on Friday, August 9th. Roth Capital boosted their price objective on shares of Planet Fitness from $80.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Berenberg Bank lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and dropped their target price for the stock from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Finally, Raymond James initiated coverage on shares of Planet Fitness in a research report on Wednesday, June 26th. They set an “outperform” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $77.04.
Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.04. The firm had revenue of $181.66 million for the quarter, compared to analysts’ expectations of $167.91 million. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 earnings per share. Research analysts anticipate that Planet Fitness Inc will post 1.57 earnings per share for the current year.
Planet Fitness Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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