Emerald Advisers Inc. PA Sells 2,320 Shares of Planet Fitness, Inc. (PLNT)
Emerald Advisers Inc. PA lessened its position in Planet Fitness, Inc. (NYSE:PLNT) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 730,495 shares of the company’s stock after selling 2,320 shares during the period. Emerald Advisers Inc. PA owned 0.85% of Planet Fitness worth $19,709,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of PLNT. Goldman Sachs Group Inc. boosted its position in shares of Planet Fitness by 1,196.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 243,061 shares of the company’s stock valued at $5,673,000 after purchasing an additional 224,311 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Planet Fitness in the first quarter worth about $1,234,000. Federated Investors Inc. PA increased its holdings in Planet Fitness by 26.8% during the 2nd quarter. Federated Investors Inc. PA now owns 270,000 shares of the company’s stock valued at $6,302,000 after purchasing an additional 57,000 shares during the period. BlackRock Inc. increased its holdings in Planet Fitness by 108.4% during the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after purchasing an additional 2,496,984 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Planet Fitness by 7.7% during the 2nd quarter. Principal Financial Group Inc. now owns 851,131 shares of the company’s stock valued at $19,866,000 after purchasing an additional 60,939 shares during the period.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter last year, the firm posted $0.17 EPS. The business’s revenue was up 17.3% compared to the same quarter last year.
In other news, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $26.75, for a total transaction of $535,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 60,000 shares of company stock valued at $1,581,000. Insiders own 19.87% of the company’s stock.
PLNT has been the subject of several research reports. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Thursday, October 26th. Jefferies Group LLC reissued a “buy” rating and set a $29.00 target price on shares of Planet Fitness in a report on Thursday, October 19th. BidaskClub cut shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Robert W. Baird reissued an “outperform” rating and set a $31.00 target price (up previously from $28.00) on shares of Planet Fitness in a report on Wednesday, October 4th. Finally, Roth Capital raised their target price on shares of Planet Fitness from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, August 21st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $28.00.
Planet Fitness Company Profile
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.
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