Arrowstreet Capital Limited Partnership Trims Stake in Planet Fitness, Inc. (NYSE:PLNT)

by · The Cerbat Gem

Arrowstreet Capital Limited Partnership lessened its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 45.0% in the fourth quarter, HoldingsChannel reports. The firm owned 256,106 shares of the company’s stock after selling 209,785 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Planet Fitness were worth $25,321,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLNT. Tidal Investments LLC increased its stake in shares of Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after purchasing an additional 16,503 shares in the last quarter. AMJ Financial Wealth Management bought a new position in Planet Fitness during the 4th quarter valued at approximately $495,000. State Street Corp raised its stake in Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after buying an additional 37,236 shares during the last quarter. Nkcfo LLC purchased a new position in Planet Fitness during the fourth quarter valued at $1,088,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Planet Fitness in the third quarter worth $604,000. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Macquarie lowered their price target on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. DA Davidson reaffirmed a “neutral” rating and issued a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Roth Mkm reissued a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.44.

View Our Latest Analysis on PLNT

Planet Fitness Price Performance

Shares of PLNT opened at $97.46 on Friday. The firm has a market capitalization of $8.25 billion, a PE ratio of 52.40, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. The company’s fifty day moving average price is $99.75 and its 200-day moving average price is $95.06. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00.

Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. As a group, research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness Profile

(Free Report)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

See Also

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