Balyasny Asset Management LLC Purchases Shares of 1,019,787 Planet Fitness, Inc. (PLNT)
Balyasny Asset Management LLC purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,019,787 shares of the company’s stock, valued at approximately $23,802,000. Balyasny Asset Management LLC owned approximately 1.19% of Planet Fitness as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also made changes to their positions in PLNT. D.A. Davidson & CO. bought a new stake in shares of Planet Fitness in the 2nd quarter valued at about $145,000. Oppenheimer Asset Management Inc. purchased a new stake in Planet Fitness during the 1st quarter valued at about $136,000. Fortaleza Asset Management Inc. boosted its holdings in Planet Fitness by 57.9% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock valued at $183,000 after acquiring an additional 2,870 shares during the period. FNY Partners Fund LP purchased a new stake in Planet Fitness during the 1st quarter valued at about $154,000. Finally, Trellus Management Company LLC purchased a new stake in Planet Fitness during the 2nd quarter valued at about $233,000.
PLNT has been the topic of a number of analyst reports. Cowen and Company reaffirmed an “outperform” rating and issued a $28.00 price target (up from $23.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Roth Capital set a $23.00 price objective on Planet Fitness and gave the company a “buy” rating in a research note on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and set a $29.00 price objective (up previously from $26.00) on shares of Planet Fitness in a research note on Thursday, August 10th. Zacks Investment Research cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Planet Fitness presently has an average rating of “Buy” and an average target price of $27.33.
Shares of Planet Fitness, Inc. (PLNT) opened at 27.05 on Monday. The firm has a 50-day moving average price of $25.81 and a 200 day moving average price of $25.81. Planet Fitness, Inc. has a 12-month low of $19.17 and a 12-month high of $27.20. The stock has a market cap of $2.32 billion, a PE ratio of 46.64 and a beta of 0.86.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The company had revenue of $107.31 million for the quarter, compared to the consensus estimate of $101.99 million. During the same period in the prior year, the firm posted $0.17 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts expect that Planet Fitness, Inc. will post $0.47 earnings per share for the current year.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three 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, the Dominican Republic and Canada.
Receive News & Ratings for Planet Fitness Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.