Federated Investors Inc. PA Acquires 57,000 Shares of Planet Fitness, Inc. (PLNT)
Federated Investors Inc. PA raised its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 26.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 270,000 shares of the company’s stock after buying an additional 57,000 shares during the period. Federated Investors Inc. PA owned approximately 0.37% of Planet Fitness worth $6,302,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Alliancebernstein L.P. boosted its stake in shares of Planet Fitness by 11.1% in the first quarter. Alliancebernstein L.P. now owns 5,948,306 shares of the company’s stock worth $114,624,000 after buying an additional 593,265 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in shares of Planet Fitness during the first quarter worth approximately $734,000. Victory Capital Management Inc. boosted its stake in shares of Planet Fitness by 54,692.9% in the first quarter. Victory Capital Management Inc. now owns 1,351,742 shares of the company’s stock worth $26,047,000 after buying an additional 1,349,275 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Planet Fitness during the first quarter worth approximately $1,234,000. Finally, Holland Capital Management LLC boosted its stake in shares of Planet Fitness by 20.3% in the first quarter. Holland Capital Management LLC now owns 96,626 shares of the company’s stock worth $1,862,000 after buying an additional 16,279 shares during the period.
Shares of Planet Fitness, Inc. (NYSE:PLNT) opened at 24.76 on Thursday. Planet Fitness, Inc. has a 52-week low of $18.32 and a 52-week high of $25.19. The firm has a market capitalization of $2.12 billion, a PE ratio of 42.69 and a beta of 0.90. The company’s 50-day moving average is $23.43 and its 200 day moving average is $21.56.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. The company had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same period last year, the business earned $0.17 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts expect that Planet Fitness, Inc. will post $0.47 earnings per share for the current fiscal year.
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PLNT has been the subject of a number of recent research reports. BidaskClub cut shares of Planet Fitness from a “hold” rating to a “sell” rating in a research report on Sunday, July 9th. Zacks Investment Research cut shares of Planet Fitness from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Jefferies Group LLC raised their price objective on shares of Planet Fitness from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Finally, Imperial Capital raised their price objective on shares of Planet Fitness from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.33.
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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