Janus Henderson Group PLC bought a new stake in shares of Planet Fitness Inc (NYSE:PLNT) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,426 shares of the company’s stock, valued at approximately $304,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Ffcm LLC acquired a new position in Planet Fitness in the 4th quarter valued at $26,000. Meeder Asset Management Inc. increased its position in shares of Planet Fitness by 99.3% during the 4th quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after purchasing an additional 284 shares in the last quarter. Bessemer Group Inc. increased its position in Planet Fitness by 30.6% in the 4th quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock valued at $60,000 after acquiring an additional 264 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Planet Fitness in the 1st quarter valued at about $73,000. Finally, Ibex Investors LLC acquired a new stake in shares of Planet Fitness during the 4th quarter worth approximately $225,000. Hedge funds and other institutional investors own 95.87% of the company’s stock.
A number of brokerages have weighed in on PLNT. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Macquarie upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $64.00 to $85.00 in a report on Tuesday, May 7th. Jefferies Financial Group boosted their target price on shares of Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. ValuEngine raised shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. Finally, Bank of America reissued a “buy” rating and issued a $86.00 target price (up previously from $72.00) on shares of Planet Fitness in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $67.57.
In other news, CEO Christopher Rondeau sold 58,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $60.60, for a total value of $3,545,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Berg sold 6,291 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the transaction, the director now owns 6,615 shares in the company, valued at $408,343.95. The disclosure for this sale can be found here. In the last three months, insiders sold 460,291 shares of company stock valued at $29,450,058. Insiders own 14.52% of the company’s stock.
NYSE:PLNT opened at $74.41 on Friday. The company has a market capitalization of $7.12 billion, a PE ratio of 60.99, a P/E/G ratio of 2.29 and a beta of 0.76. Planet Fitness Inc has a 1 year low of $38.32 and a 1 year high of $81.76.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Planet Fitness had a negative return on equity of 53.73% and a net margin of 15.91%. The business had revenue of $148.82 million for the quarter, compared to the consensus estimate of $153.41 million. During the same period last year, the business posted $0.27 EPS. The business’s revenue was up 22.7% compared to the same quarter last year. On average, sell-side analysts predict that Planet Fitness Inc will post 1.55 earnings per share for the current fiscal year.
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Planet Fitness Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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