Lord Abbett & CO. LLC boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 79.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 891,216 shares of the company’s stock after purchasing an additional 394,753 shares during the quarter. Lord Abbett & CO. LLC owned about 1.00% of Planet Fitness worth $70,227,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in PLNT. Harvest Fund Management Co. Ltd lifted its holdings in shares of Planet Fitness by 144.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 536 shares of the company’s stock valued at $42,000 after purchasing an additional 317 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Planet Fitness by 58.4% in the third quarter. Global Retirement Partners LLC now owns 852 shares of the company’s stock valued at $56,000 after buying an additional 314 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Planet Fitness by 59.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,032 shares of the company’s stock valued at $81,000 after acquiring an additional 384 shares during the period. Captrust Financial Advisors grew its position in shares of Planet Fitness by 23.0% during the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after acquiring an additional 219 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Planet Fitness by 13.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after acquiring an additional 157 shares during the period. 94.56% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Planet Fitness from $90.00 to $82.00 in a research report on Friday, May 5th. Cowen boosted their price target on Planet Fitness from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, February 27th. Stifel Nicolaus reduced their price objective on Planet Fitness from $93.00 to $78.00 in a research note on Friday, May 5th. VNET Group reiterated a “maintains” rating on shares of Planet Fitness in a research note on Friday, May 5th. Finally, Piper Sandler upped their price target on Planet Fitness from $96.00 to $98.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.33.
Planet Fitness Price Performance
Planet Fitness stock traded down $1.14 during mid-day trading on Friday, reaching $68.52. The company had a trading volume of 393,581 shares, compared to its average volume of 964,397. The stock’s 50-day simple moving average is $75.65 and its 200-day simple moving average is $77.11. Planet Fitness, Inc. has a 1 year low of $54.15 and a 1 year high of $85.90. The company has a market capitalization of $6.11 billion, a P/E ratio of 55.73, a P/E/G ratio of 1.27 and a beta of 1.30.
Planet Fitness (NYSE:PLNT – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $222.23 million for the quarter, compared to analyst estimates of $238.30 million. Planet Fitness had a negative return on equity of 73.81% and a net margin of 10.86%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 earnings per share. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.16 EPS for the current fiscal year.
Planet Fitness Company Profile
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following 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, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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