Harvest Fund Management Co. Ltd trimmed its position in shares of Planet Fitness Inc (NYSE:PLNT) by 44.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,274 shares of the company’s stock after selling 1,011 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Planet Fitness were worth $92,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Comerica Bank purchased a new position in shares of Planet Fitness during the first quarter valued at approximately $201,000. Raymond James & Associates lifted its holdings in shares of Planet Fitness by 6.2% during the first quarter. Raymond James & Associates now owns 79,027 shares of the company’s stock valued at $5,431,000 after purchasing an additional 4,593 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Planet Fitness by 21.0% during the first quarter. Great West Life Assurance Co. Can now owns 12,269 shares of the company’s stock valued at $841,000 after purchasing an additional 2,132 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Planet Fitness by 7.5% during the first quarter. First Trust Advisors LP now owns 191,497 shares of the company’s stock valued at $13,160,000 after purchasing an additional 13,393 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Planet Fitness by 228.3% during the first quarter. Synovus Financial Corp now owns 719 shares of the company’s stock valued at $49,000 after purchasing an additional 500 shares during the last quarter. 88.83% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on PLNT shares. ValuEngine lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Berenberg Bank lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $80.00 to $69.00 in a report on Tuesday, September 3rd. Imperial Capital restated an “in-line” rating and issued a $72.50 price objective (up from $55.00) on shares of Planet Fitness in a report on Friday, August 9th. Raymond James initiated coverage on shares of Planet Fitness in a report on Wednesday, June 26th. They issued an “outperform” rating and a $80.00 price objective for the company. Finally, Roth Capital boosted their price objective on shares of Planet Fitness from $80.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Planet Fitness has an average rating of “Buy” and an average price target of $77.04.
NYSE PLNT traded up $0.45 during mid-day trading on Monday, reaching $57.89. The stock had a trading volume of 31,896 shares, compared to its average volume of 1,164,533. Planet Fitness Inc has a 1 year low of $44.97 and a 1 year high of $81.90. The stock has a market cap of $5.30 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 1.67 and a beta of 0.64. The company has a fifty day moving average price of $66.55 and a 200 day moving average price of $72.51.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $181.66 million during the quarter, compared to analyst estimates of $167.91 million. Planet Fitness had a net margin of 16.29% and a negative return on equity of 46.45%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. On average, research analysts expect that Planet Fitness Inc will post 1.57 earnings per share for the current year.
About Planet Fitness
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.
Recommended Story: What is a Special Dividend?
Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.