Oppenheimer Asset Management Inc. trimmed its position in shares of Planet Fitness Inc (NYSE:PLNT) by 2.9% during the third quarter, Holdings Channel.com reports. The firm owned 16,605 shares of the company’s stock after selling 491 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Planet Fitness were worth $962,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of PLNT. Bank of Montreal Can raised its position in shares of Planet Fitness by 157.1% during the second quarter. Bank of Montreal Can now owns 486 shares of the company’s stock worth $35,000 after purchasing an additional 297 shares during the period. HM Payson & Co. purchased a new stake in Planet Fitness in the 2nd quarter valued at $47,000. Captrust Financial Advisors raised its position in Planet Fitness by 298.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock valued at $74,000 after buying an additional 766 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Planet Fitness in the 2nd quarter valued at $80,000. Finally, Usca Ria LLC purchased a new stake in Planet Fitness in the 3rd quarter valued at $93,000. 88.97% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on PLNT shares. Imperial Capital raised Planet Fitness from an “in-line” rating to an “outperform” rating and set a $72.50 price target for the company in a research report on Monday, October 14th. ValuEngine lowered Planet Fitness from a “hold” rating to a “sell” rating in a research report on Tuesday. Roth Capital lowered their price target on Planet Fitness from $86.00 to $75.00 and set a “buy” rating for the company in a research report on Friday. Berenberg Bank lowered Planet Fitness from a “buy” rating to a “hold” rating and lowered their price target for the company from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Finally, Zacks Investment Research lowered Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 price target for the company. in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Planet Fitness currently has a consensus rating of “Buy” and an average price target of $76.50.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $166.82 million during the quarter, compared to the consensus estimate of $162.26 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 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. As a group, research analysts anticipate that Planet Fitness Inc will post 1.57 EPS for the current fiscal 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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