SG Americas Securities LLC Cuts Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

SG Americas Securities LLC lessened its stake in shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) by 14.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 5,060 shares of the company’s stock after selling 889 shares during the quarter. SG Americas Securities LLC’s holdings in Planet Fitness were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC purchased a new position in Planet Fitness in the fourth quarter worth $33,000. CWM LLC purchased a new position in Planet Fitness in the fourth quarter worth $56,000. State of Alaska Department of Revenue purchased a new position in Planet Fitness in the first quarter worth $126,000. Rockefeller Capital Management L.P. raised its position in Planet Fitness by 19.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,444 shares of the company’s stock worth $130,000 after acquiring an additional 234 shares in the last quarter. Finally, First Hawaiian Bank raised its position in Planet Fitness by 6.6% in the first quarter. First Hawaiian Bank now owns 2,418 shares of the company’s stock worth $204,000 after acquiring an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 93.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PLNT shares. BNP Paribas upgraded Planet Fitness from an “underperform” rating to a “neutral” rating and set a $75.00 price objective for the company in a research report on Thursday, July 7th. Robert W. Baird dropped their price target on Planet Fitness from $108.00 to $92.00 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 for the company in a research report on Wednesday, May 11th. DA Davidson dropped their price target on Planet Fitness from $110.00 to $90.00 in a research report on Friday, May 13th. Finally, Piper Sandler dropped their price target on Planet Fitness from $87.00 to $72.00 in a research report on Wednesday, May 11th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Planet Fitness Trading Down 0.0 %

Shares of NYSE:PLNT opened at $80.25 on Friday. The stock’s 50-day moving average price is $72.20 and its two-hundred day moving average price is $78.76. Planet Fitness, Inc. has a 12-month low of $61.11 and a 12-month high of $99.60. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 125.39, a PEG ratio of 1.50 and a beta of 1.17.

Planet Fitness (NYSE:PLNTGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share (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 analyst estimates of $190.44 million. During the same period last year, the company earned $0.10 EPS. The firm’s quarterly revenue was up 66.8% on a year-over-year basis. As a group, research analysts forecast that Planet Fitness, Inc. will post 1.55 earnings per share for the current fiscal year.

Planet Fitness Profile

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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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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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