First Mercantile Trust Co. decreased its holdings in shares of Planet Fitness Inc (NYSE:PLNT) by 27.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,389 shares of the company’s stock after selling 2,027 shares during the period. First Mercantile Trust Co.’s holdings in Planet Fitness were worth $311,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Bank of Montreal Can boosted its stake in Planet Fitness by 157.1% during the second quarter. Bank of Montreal Can now owns 486 shares of the company’s stock valued at $35,000 after buying an additional 297 shares during the period. HM Payson & Co. bought a new stake in Planet Fitness during the second quarter valued at $47,000. Captrust Financial Advisors boosted its stake in Planet Fitness by 298.1% during the second quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock valued at $74,000 after buying an additional 766 shares during the period. FNY Investment Advisers LLC bought a new stake in Planet Fitness during the second quarter valued at $80,000. Finally, Usca Ria LLC bought a new stake in Planet Fitness during the third quarter valued at $93,000. 88.97% of the stock is owned by institutional investors.
Several research firms recently issued reports on PLNT. Zacks Investment Research lowered Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 price objective for the company. in a research note on Wednesday. Roth Capital dropped their price objective on Planet Fitness from $86.00 to $75.00 and set a “buy” rating for the company in a research note on Friday. Imperial Capital raised Planet Fitness from an “in-line” rating to an “outperform” rating and set a $72.50 price objective for the company in a research note on Monday, October 14th. ValuEngine downgraded Planet Fitness from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Berenberg Bank downgraded Planet Fitness from a “buy” rating to a “hold” rating and lowered their price target for the company from $80.00 to $69.00 in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $76.50.
NYSE PLNT opened at $68.42 on Friday. The stock’s 50-day simple moving average is $60.22 and its two-hundred day simple moving average is $70.59. Planet Fitness Inc has a twelve month low of $48.00 and a twelve month high of $81.90. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 56.08, a PEG ratio of 1.69 and a beta of 0.63.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The business had revenue of $166.82 million for the quarter, compared to the consensus estimate of $162.26 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts expect that Planet Fitness Inc will post 1.57 earnings per share for the current 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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