CIBC Asset Management Inc acquired a new stake in shares of Planet Fitness Inc (NYSE:PLNT) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,577 shares of the company’s stock, valued at approximately $246,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ffcm LLC bought a new stake in Planet Fitness during the 4th quarter valued at $26,000. Meeder Asset Management Inc. raised its position in Planet Fitness by 99.3% during the 4th quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock valued at $31,000 after purchasing an additional 284 shares in the last quarter. Quantamental Technologies LLC bought a new stake in Planet Fitness during the 1st quarter valued at $73,000. Bessemer Group Inc. raised its position in Planet Fitness by 30.6% during the 4th quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock valued at $60,000 after purchasing an additional 264 shares in the last quarter. Finally, Comerica Bank bought a new stake in Planet Fitness during the 1st quarter valued at $201,000. Institutional investors own 95.87% of the company’s stock.
In other news, CEO Christopher Rondeau sold 200,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $65.86, for a total value of $13,172,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Berg sold 6,291 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $61.73, for a total value of $388,343.43. Following the completion of the transaction, the director now directly owns 6,615 shares of the company’s stock, valued at $408,343.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 460,291 shares of company stock valued at $29,450,058. Corporate insiders own 14.52% of the company’s stock.
A number of equities research analysts have weighed in on the company. ValuEngine raised Planet Fitness from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. Macquarie raised Planet Fitness from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $64.00 to $85.00 in a research report on Tuesday, May 7th. Wedbush lifted their target price on Planet Fitness from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, February 27th. Cowen reaffirmed an “average” rating and set a $85.00 target price (up from $65.00) on shares of Planet Fitness in a research report on Monday, April 29th. Finally, Jefferies Financial Group lifted their target price on Planet Fitness from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $67.57.
PLNT opened at $74.56 on Monday. The firm has a market capitalization of $6.94 billion, a PE ratio of 61.11, a P/E/G ratio of 2.29 and a beta of 0.76. Planet Fitness Inc has a 12 month low of $38.46 and a 12 month high of $81.76.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $148.82 million during the quarter, compared to analyst estimates of $153.41 million. Planet Fitness had a negative return on equity of 53.73% and a net margin of 15.91%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. On average, research analysts anticipate that Planet Fitness Inc will post 1.55 earnings per share for the current year.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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