3,577 Shares in Planet Fitness Inc (PLNT) Purchased by CIBC Asset Management Inc

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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.

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

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