Planet Fitness, Inc. (PLNT) Position Cut by HL Financial Services LLC
HL Financial Services LLC decreased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 77.0% during the second quarter, Holdings Channel reports. The firm owned 15,265 shares of the company’s stock after selling 51,070 shares during the period. HL Financial Services LLC’s holdings in Planet Fitness were worth $356,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $136,000. FNY Partners Fund LP purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $154,000. Princeton Alpha Management LP purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $224,000. Guggenheim Capital LLC purchased a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $228,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $231,000. 98.33% of the stock is currently owned by institutional investors.
Shares of Planet Fitness, Inc. (NYSE:PLNT) opened at 24.28 on Tuesday. The stock’s 50 day moving average is $23.23 and its 200-day moving average is $21.37. Planet Fitness, Inc. has a one year low of $18.32 and a one year high of $25.19. The stock has a market cap of $2.08 billion, a P/E ratio of 41.86 and a beta of 0.90.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $107.31 million for the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities analysts forecast that Planet Fitness, Inc. will post $0.47 EPS for the current year.
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Several analysts recently commented on the stock. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, July 12th. Guggenheim reissued a “buy” rating and set a $24.00 price objective on shares of Planet Fitness in a research report on Monday, April 24th. Imperial Capital increased their price objective on shares of Planet Fitness from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday, May 4th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Planet Fitness in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Planet Fitness has an average rating of “Buy” and an average price target of $26.56.
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.
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