Wells Fargo & Company MN raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,168 shares of the company’s stock after buying an additional 82,828 shares during the period. Wells Fargo & Company MN owned approximately 1.32% of Planet Fitness worth $15,766,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of PLNT. Loomis Sayles & Co. L P purchased a new stake in Planet Fitness during the fourth quarter valued at $25,550,000. Summit Partners Public Asset Management LLC raised its stake in Planet Fitness by 290.5% in the third quarter. Summit Partners Public Asset Management LLC now owns 390,455 shares of the company’s stock valued at $7,836,000 after buying an additional 290,455 shares during the period. Capital World Investors raised its stake in Planet Fitness by 6.9% in the third quarter. Capital World Investors now owns 3,558,286 shares of the company’s stock valued at $71,415,000 after buying an additional 229,000 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Planet Fitness during the fourth quarter valued at $4,092,000. Finally, Nicholas Investment Partners LP bought a new stake in shares of Planet Fitness during the fourth quarter valued at about $4,033,000. Institutional investors own 94.65% of the company’s stock.
Planet Fitness, Inc. (NYSE PLNT) opened at 22.81 on Friday. Planet Fitness, Inc. has a 12 month low of $16.91 and a 12 month high of $25.10. The firm has a market capitalization of $1.65 billion, a PE ratio of 42.40 and a beta of 0.94. The stock has a 50 day moving average of $21.18 and a 200 day moving average of $20.53.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, May 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Planet Fitness had a net margin of 6.99% and a negative return on equity of 79.66%. The firm had revenue of $91.10 million for the quarter, compared to analysts’ expectations of $91.33 million. On average, equities analysts predict that Planet Fitness, Inc. will post $0.47 earnings per share for the current fiscal year.
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Several brokerages have recently issued reports on PLNT. Cowen and Company reissued a “buy” rating and set a $23.00 price objective (down previously from $25.00) on shares of Planet Fitness in a research report on Thursday, March 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of Planet Fitness in a research report on Monday, April 3rd. Guggenheim reaffirmed a “buy” rating and issued a $24.00 target price on shares of Planet Fitness in a research report on Monday, April 24th. Wedbush downgraded shares of Planet Fitness from an “outperform” rating to a “neutral” rating in a research report on Friday, March 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Planet Fitness from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $24.33.
In other news, Director Charles Esserman sold 16,085,510 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $20.28, for a total value of $326,214,142.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher Rondeau sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $18.67, for a total transaction of $373,400.00. The disclosure for this sale can be found here. Insiders sold 16,245,510 shares of company stock worth $329,327,943 in the last 90 days. Company insiders own 19.87% of the company’s stock.
Planet Fitness Company Profile
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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