Planet Fitness Inc. (PLNT) Stake Increased by Ameriprise Financial Inc.
Ameriprise Financial Inc. raised its stake in Planet Fitness Inc. (NYSE:PLNT) by 35.8% during the second quarter, Holdings Channel reports. The firm owned 388,376 shares of the company’s stock after buying an additional 102,355 shares during the period. Ameriprise Financial Inc. owned 1.06% of Planet Fitness worth $7,333,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services Inc increased its position in Planet Fitness by 3.8% in the first quarter. Commonwealth Equity Services Inc now owns 15,575 shares of the company’s stock valued at $253,000 after buying an additional 575 shares during the period. Spark Investment Management LLC acquired a new position in Planet Fitness during the first quarter valued at $2,994,000. State Street Corp increased its position in Planet Fitness by 4.3% in the first quarter. State Street Corp now owns 220,638 shares of the company’s stock valued at $3,581,000 after buying an additional 9,010 shares during the period. Geode Capital Management LLC increased its position in Planet Fitness by 18.9% in the first quarter. Geode Capital Management LLC now owns 87,969 shares of the company’s stock valued at $1,428,000 after buying an additional 14,002 shares during the period. Finally, Barclays PLC increased its position in Planet Fitness by 110.2% in the first quarter. Barclays PLC now owns 28,800 shares of the company’s stock valued at $461,000 after buying an additional 15,100 shares during the period. Hedge funds and other institutional investors own 83.52% of the company’s stock.
Planet Fitness Inc. (NYSE:PLNT) traded down 0.60% during midday trading on Friday, hitting $19.83. The stock had a trading volume of 628,973 shares. The stock’s market cap is $882.22 million. The company’s 50-day moving average price is $20.68 and its 200 day moving average price is $18.62. Planet Fitness Inc. has a 12-month low of $13.23 and a 12-month high of $23.41.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, August 11th. The company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The business earned $91.50 million during the quarter, compared to analysts’ expectations of $78.95 million. Planet Fitness had a return on equity of 2,244.54% and a net margin of 1.74%. Planet Fitness’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities research analysts predict that Planet Fitness Inc. will post $0.47 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on PLNT shares. Credit Suisse Group AG reiterated an “outperform” rating and set a $19.00 target price on shares of Planet Fitness in a research report on Monday, June 27th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, June 29th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $21.00 target price (up from $20.00) on shares of Planet Fitness in a research report on Wednesday, June 29th. Wedbush restated an “outperform” rating and set a $23.00 price target (up from $21.00) on shares of Planet Fitness in a research note on Thursday, August 11th. Finally, Jefferies Group restated a “buy” rating and set a $26.00 price target (up from $25.00) on shares of Planet Fitness in a research note on Friday, August 12th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Planet Fitness has an average rating of “Buy” and a consensus price target of $21.95.
In related news, Director Pierre Lecomte sold 8,000,000 shares of Planet Fitness stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $19.62, for a total transaction of $156,960,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard L. Moore sold 8,200 shares of Planet Fitness stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $21.00, for a total value of $172,200.00. Following the sale, the insider now directly owns 8,200 shares of the company’s stock, valued at approximately $172,200. The disclosure for this sale can be found here. 32.39% of the stock is owned by insiders.
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 its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic.
Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness Inc. (NYSE:PLNT).
Receive News & Ratings for Planet Fitness Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness Inc. and related companies with MarketBeat.com's FREE daily email newsletter.