Planet Fitness, Inc. (NYSE:PLNT) Position Boosted by Russell Investments Group Ltd.
Russell Investments Group Ltd. boosted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 265.8% during the second quarter, Holdings Channel reports. The firm owned 562,465 shares of the company’s stock after buying an additional 408,716 shares during the period. Russell Investments Group Ltd.’s holdings in Planet Fitness were worth $13,129,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Planet Fitness by 58.2% in the fourth quarter. State Street Corp now owns 430,303 shares of the company’s stock worth $8,645,000 after buying an additional 158,345 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Planet Fitness during the fourth quarter worth about $4,092,000. Metropolitan Life Insurance Co. NY boosted its stake in Planet Fitness by 87.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,063 shares of the company’s stock worth $383,000 after buying an additional 8,916 shares during the period. Guggenheim Capital LLC purchased a new stake in Planet Fitness during the fourth quarter worth about $228,000. Finally, AQR Capital Management LLC purchased a new stake in Planet Fitness during the fourth quarter worth about $639,000. Institutional investors own 94.72% of the company’s stock.
Planet Fitness, Inc. (PLNT) traded down 2.31% during midday trading on Friday, hitting $24.55. 2,401,579 shares of the company traded hands. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 42.33 and a beta of 0.90. The stock’s 50-day moving average price is $23.23 and its 200 day moving average price is $21.34. Planet Fitness, Inc. has a 12-month low of $18.32 and a 12-month high of $25.19.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 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 for the quarter, compared to analyst estimates of $101.99 million. During the same quarter in the prior year, the business earned $0.17 EPS. Planet Fitness’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities analysts forecast that Planet Fitness, Inc. will post $0.47 EPS for the current year.
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A number of equities research analysts have issued reports on PLNT shares. Guggenheim restated a “buy” rating and set a $24.00 price target on shares of Planet Fitness in a report on Monday, April 24th. Roth Capital restated a “buy” rating and set a $23.00 price target on shares of Planet Fitness in a report on Wednesday, May 3rd. Jefferies Group LLC upped their price target on shares of Planet Fitness from $25.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Zacks Investment Research cut shares of Planet Fitness from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Finally, Imperial Capital increased their target price on shares of Planet Fitness from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Planet Fitness presently has a consensus rating of “Buy” and an average price target of $26.20.
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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