Elk Creek Partners LLC Sells 77,865 Shares of Planet Fitness, Inc. (PLNT)
Elk Creek Partners LLC lowered its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 830,369 shares of the company’s stock after selling 77,865 shares during the period. Planet Fitness comprises about 1.3% of Elk Creek Partners LLC’s investment portfolio, making the stock its 19th biggest position. Elk Creek Partners LLC owned 1.14% of Planet Fitness worth $19,381,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its position in Planet Fitness by 15.9% during the 2nd quarter. Alliancebernstein L.P. now owns 6,892,227 shares of the company’s stock valued at $160,865,000 after buying an additional 943,921 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Planet Fitness by 17.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,708,936 shares of the company’s stock worth $133,246,000 after purchasing an additional 830,788 shares during the period. Vanguard Group Inc. lifted its position in shares of Planet Fitness by 40.6% in the 1st quarter. Vanguard Group Inc. now owns 4,977,283 shares of the company’s stock worth $95,913,000 after purchasing an additional 1,436,427 shares during the period. BlackRock Inc. lifted its position in shares of Planet Fitness by 108.4% in the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after purchasing an additional 2,496,984 shares during the period. Finally, Eagle Asset Management Inc. lifted its position in shares of Planet Fitness by 10.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 3,502,857 shares of the company’s stock worth $81,756,000 after purchasing an additional 326,169 shares during the period.
Several equities research analysts have recently commented on PLNT shares. 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 raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, August 11th. Imperial Capital lifted their price target on shares of Planet Fitness from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, August 15th. Jefferies Group LLC reissued a “buy” rating and set a $26.00 price target on shares of Planet Fitness in a research report on Tuesday, June 6th. Finally, Cowen and Company reissued an “outperform” rating and set a $28.00 price target (up from $23.00) on shares of Planet Fitness in a research report on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.33.
Shares of Planet Fitness, Inc. (NYSE:PLNT) traded down 0.35% during mid-day trading on Friday, hitting $25.79. 1,190,661 shares of the stock were exchanged. The stock has a 50-day moving average price of $25.67 and a 200 day moving average price of $23.84. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 44.47 and a beta of 0.85. Planet Fitness, Inc. has a 52-week low of $19.17 and a 52-week high of $26.15.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The firm had revenue of $107.31 million during the quarter, compared to analyst estimates of $101.99 million. During the same period last year, the firm posted $0.17 EPS. Planet Fitness’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts expect that Planet Fitness, Inc. will post $0.47 earnings per share for the current year.
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Planet Fitness 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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