Pelham Capital Ltd. grew its holdings in Planet Fitness Inc (NYSE:PLNT) by 104.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,309,081 shares of the company’s stock after purchasing an additional 668,113 shares during the period. Planet Fitness comprises approximately 10.6% of Pelham Capital Ltd.’s holdings, making the stock its 4th largest holding. Pelham Capital Ltd. owned approximately 1.41% of Planet Fitness worth $94,830,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Planet Fitness by 4,557.1% in the first quarter. PNC Financial Services Group Inc. now owns 652 shares of the company’s stock worth $45,000 after purchasing an additional 638 shares during the period. Synovus Financial Corp increased its stake in Planet Fitness by 228.3% in the first quarter. Synovus Financial Corp now owns 719 shares of the company’s stock worth $49,000 after purchasing an additional 500 shares during the period. Quantamental Technologies LLC purchased a new stake in Planet Fitness in the first quarter worth $73,000. Meeder Asset Management Inc. increased its stake in Planet Fitness by 88.8% in the first quarter. Meeder Asset Management Inc. now owns 1,076 shares of the company’s stock worth $74,000 after purchasing an additional 506 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Planet Fitness in the second quarter worth $80,000. Institutional investors and hedge funds own 93.17% of the company’s stock.
PLNT has been the topic of several research reports. Piper Jaffray Companies raised their price target on Planet Fitness from $70.00 to $84.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. They noted that the move was a valuation call. Imperial Capital restated an “in-line” rating and set a $72.50 price target (up previously from $55.00) on shares of Planet Fitness in a research note on Friday, August 9th. Jefferies Financial Group raised their price target on Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Macquarie upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and raised their price target for the company from $64.00 to $85.00 in a research note on Tuesday, May 7th. Finally, Roth Capital raised their price target on Planet Fitness from $80.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $76.12.
PLNT stock traded up $0.94 during trading on Friday, reaching $69.81. 550,800 shares of the company traded hands, compared to its average volume of 1,301,793. Planet Fitness Inc has a 12 month low of $44.97 and a 12 month high of $81.90. The business has a 50 day simple moving average of $75.56 and a 200 day simple moving average of $71.44. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 57.22, a price-to-earnings-growth ratio of 2.03 and a beta of 0.59.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The company had revenue of $181.66 million for the quarter, compared to the consensus estimate of $167.91 million. During the same quarter last year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. Equities research analysts expect that Planet Fitness Inc will post 1.57 earnings per share for the current fiscal year.
Planet Fitness Company 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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