Shell Asset Management Co. trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 12.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,107 shares of the company’s stock after selling 756 shares during the period. Shell Asset Management Co.’s holdings in Planet Fitness were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PLNT. Allspring Global Investments Holdings LLC acquired a new stake in Planet Fitness during the fourth quarter worth about $25,981,000. Commonwealth Equity Services LLC grew its holdings in Planet Fitness by 7.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,789 shares of the company’s stock worth $433,000 after acquiring an additional 350 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in Planet Fitness by 0.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 48,806 shares of the company’s stock worth $4,421,000 after acquiring an additional 148 shares during the period. CWM LLC acquired a new stake in Planet Fitness during the fourth quarter worth about $56,000. Finally, Qube Research & Technologies Ltd grew its holdings in Planet Fitness by 57.3% during the fourth quarter. Qube Research & Technologies Ltd now owns 36,163 shares of the company’s stock worth $3,276,000 after acquiring an additional 13,174 shares during the period. 93.87% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Exane BNP Paribas upgraded Planet Fitness from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 7th. Piper Sandler lowered their price target on Planet Fitness from $87.00 to $72.00 in a research report on Wednesday, May 11th. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a research report on Wednesday, May 11th. DA Davidson lowered their price target on Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. Finally, Robert W. Baird lowered their price target on Planet Fitness from $108.00 to $92.00 in a research report on Wednesday, May 11th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.
Planet Fitness Stock Performance
Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The firm had revenue of $186.70 million for the quarter, compared to the consensus estimate of $190.44 million. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 66.8% compared to the same quarter last year. On average, analysts predict that Planet Fitness, Inc. will post 1.55 EPS for the current fiscal year.
Planet Fitness Company Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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