Driehaus Capital Management LLC Cuts Holdings in Planet Fitness Inc (PLNT)
Driehaus Capital Management LLC reduced its position in shares of Planet Fitness Inc (NYSE:PLNT) by 25.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 108,595 shares of the company’s stock after selling 36,629 shares during the period. Driehaus Capital Management LLC’s holdings in Planet Fitness were worth $3,761,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Planet Fitness during the 4th quarter worth approximately $104,000. SG Americas Securities LLC purchased a new stake in Planet Fitness during the 4th quarter worth approximately $114,000. Envestnet Asset Management Inc. increased its stake in Planet Fitness by 164.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock worth $131,000 after buying an additional 3,022 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Planet Fitness by 81.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,994 shares of the company’s stock worth $173,000 after buying an additional 2,244 shares in the last quarter. Finally, Strs Ohio increased its stake in Planet Fitness by 69.7% during the 4th quarter. Strs Ohio now owns 5,600 shares of the company’s stock worth $193,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 97.78% of the company’s stock.
Several equities research analysts have commented on the company. Roth Capital set a $41.00 price objective on Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, March 1st. Piper Jaffray Companies reiterated a “buy” rating on shares of Planet Fitness in a research note on Tuesday, February 27th. Guggenheim reiterated a “buy” rating on shares of Planet Fitness in a research note on Friday, February 23rd. Cowen set a $41.00 price objective on Planet Fitness and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Jefferies Group reiterated a “hold” rating and set a $35.00 price objective on shares of Planet Fitness in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $36.38.
Shares of Planet Fitness Inc (PLNT) opened at $39.51 on Friday. The company has a debt-to-equity ratio of -5.09, a current ratio of 1.58 and a quick ratio of 1.56. The stock has a market capitalization of $3,900.00 and a P/E ratio of 9.19. Planet Fitness Inc has a 52-week low of $18.32 and a 52-week high of $40.04.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $134.00 million during the quarter, compared to analyst estimates of $131.11 million. Planet Fitness had a negative return on equity of 52.97% and a net margin of 7.71%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 earnings per share. sell-side analysts predict that Planet Fitness Inc will post 1.18 EPS for the current fiscal year.
Planet Fitness declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 22nd that allows the company to repurchase $80.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
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 the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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