Eagle Asset Management Inc. Boosts Stake in Planet Fitness Inc. (PLNT)
Eagle Asset Management Inc. raised its stake in Planet Fitness Inc. (NYSE:PLNT) by 10.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 943,873 shares of the company’s stock after buying an additional 85,852 shares during the period. Eagle Asset Management Inc. owned 2.12% of Planet Fitness worth $18,943,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Advisors LLC increased its stake in shares of Planet Fitness by 3.2% in the second quarter. BlackRock Advisors LLC now owns 7,732 shares of the company’s stock valued at $146,000 after buying an additional 240 shares during the last quarter. American International Group Inc. increased its stake in shares of Planet Fitness by 3.3% in the second quarter. American International Group Inc. now owns 9,045 shares of the company’s stock valued at $171,000 after buying an additional 288 shares during the last quarter. Fortaleza Asset Management Inc. increased its stake in shares of Planet Fitness by 61.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,900 shares of the company’s stock valued at $187,000 after buying an additional 3,785 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Planet Fitness by 4.6% in the second quarter. Nationwide Fund Advisors now owns 10,261 shares of the company’s stock valued at $194,000 after buying an additional 452 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new stake in shares of Planet Fitness during the third quarter valued at $205,000. 84.52% of the stock is currently owned by institutional investors.
Shares of Planet Fitness Inc. (NYSE:PLNT) traded down 0.95% during trading on Tuesday, reaching $20.79. 162,084 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.04 billion, a PE ratio of 75.60 and a beta of 0.85. The company’s 50-day moving average price is $21.11 and its 200 day moving average price is $20.07. Planet Fitness Inc. has a 52 week low of $13.23 and a 52 week high of $25.10.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The business earned $87 million during the quarter, compared to analyst estimates of $79.32 million. Planet Fitness had a net margin of 3.65% and a return on equity of 485.81%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Analysts predict that Planet Fitness Inc. will post $0.47 EPS for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be given a dividend of $2.78 per share. The ex-dividend date of this dividend is Friday, November 18th.
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PLNT has been the topic of several analyst reports. TheStreet raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Zacks Investment Research downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Thursday, October 20th. Roth Capital set a $23.00 target price on shares of Planet Fitness and gave the company a “buy” rating in a report on Thursday, October 27th. Piper Jaffray Cos. lifted their target price on shares of Planet Fitness from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, August 12th. Finally, Imperial Capital lifted their target price on shares of Planet Fitness from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, October 31st. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $23.18.
In related news, Director Pierre Lecomte sold 15,000,000 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $23.22, for a total value of $348,300,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard L. Moore sold 8,200 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $21.00, for a total transaction of $172,200.00. Following the completion of the transaction, the insider now owns 8,200 shares of the company’s stock, valued at approximately $172,200. The disclosure for this sale can be found here. Insiders own 32.39% of the company’s stock.
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 its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic.
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