Sheets Smith Wealth Management Invests $364,000 in Planet Fitness, Inc. (PLNT) Stock
Sheets Smith Wealth Management purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,499 shares of the company’s stock, valued at approximately $364,000.
A number of other hedge funds have also made changes to their positions in PLNT. Envestnet Asset Management Inc. increased its stake in Planet Fitness by 164.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock valued at $131,000 after purchasing an additional 3,022 shares in the last quarter. D.A. Davidson & CO. bought a new stake in Planet Fitness during the 2nd quarter valued at $145,000. Ameritas Investment Partners Inc. increased its stake in Planet Fitness by 234.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock valued at $173,000 after purchasing an additional 5,189 shares in the last quarter. Prudential Financial Inc. bought a new stake in Planet Fitness during the 3rd quarter valued at $214,000. Finally, BNP Paribas Arbitrage SA increased its stake in Planet Fitness by 412.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,093 shares of the company’s stock valued at $236,000 after purchasing an additional 8,125 shares in the last quarter.
Planet Fitness, Inc. (NYSE:PLNT) opened at $32.37 on Friday. The company has a debt-to-equity ratio of -5.00, a quick ratio of 1.56 and a current ratio of 1.57. The stock has a market cap of $3,297.13, a price-to-earnings ratio of 41.90, a price-to-earnings-growth ratio of 1.98 and a beta of 1.00. Planet Fitness, Inc. has a fifty-two week low of $18.32 and a fifty-two week high of $35.03.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $97.50 million for the quarter, compared to the consensus estimate of $93.55 million. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS. sell-side analysts anticipate that Planet Fitness, Inc. will post 0.82 earnings per share for the current fiscal year.
A number of brokerages have commented on PLNT. Cowen boosted their price target on shares of Planet Fitness from $30.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday. Robert W. Baird reaffirmed an “outperform” rating and set a $31.00 price objective (up from $28.00) on shares of Planet Fitness in a report on Wednesday, October 4th. Imperial Capital lifted their price objective on shares of Planet Fitness from $33.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, January 5th. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, BidaskClub raised shares of Planet Fitness from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $32.88.
In related news, CEO Christopher Rondeau sold 60,000 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $32.54, for a total value of $1,952,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dorvin D. Lively sold 144,557 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $31.80, for a total transaction of $4,596,912.60. Following the completion of the transaction, the chief financial officer now directly owns 38,674 shares in the company, valued at $1,229,833.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,134,427 shares of company stock worth $34,941,422 over the last ninety days. Insiders own 19.87% of the company’s stock.
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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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