Planet Fitness, Inc. (PLNT) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Planet Fitness, Inc. (NYSE:PLNT) from a sell rating to a hold rating in a research report report published on Saturday.
Other research analysts have also recently issued reports about the company. Roth Capital reaffirmed a buy rating and issued a $23.00 target price on shares of Planet Fitness in a research report on Wednesday, May 3rd. Imperial Capital raised their target price on Planet Fitness from $24.00 to $25.00 and gave the stock an outperform rating in a research report on Thursday, May 4th. Guggenheim reissued a buy rating and set a $24.00 price objective on shares of Planet Fitness in a report on Monday, April 24th. Jefferies Group LLC reissued a buy rating and set a $26.00 price objective on shares of Planet Fitness in a report on Tuesday, June 6th. Finally, Zacks Investment Research raised Planet Fitness from a hold rating to a buy rating and set a $25.00 price objective for the company in a report on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Planet Fitness presently has a consensus rating of Buy and an average target price of $25.09.
Shares of Planet Fitness (NYSE:PLNT) opened at 23.36 on Friday. Planet Fitness has a one year low of $18.32 and a one year high of $25.10. The firm has a market capitalization of $1.69 billion, a PE ratio of 43.42 and a beta of 0.90. The firm’s 50 day moving average is $23.05 and its 200-day moving average is $21.16.
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In other news, Director Charles Esserman sold 16,085,510 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $20.28, for a total value of $326,214,142.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.87% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new stake in shares of Planet Fitness during the first quarter worth $136,000. Fortaleza Asset Management Inc. raised its stake in shares of Planet Fitness by 57.9% in the second quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after buying an additional 2,870 shares during the period. FNY Partners Fund LP acquired a new stake in shares of Planet Fitness during the first quarter worth $154,000. Trellus Management Company LLC acquired a new stake in shares of Planet Fitness during the second quarter worth $233,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Planet Fitness by 412.9% in the second quarter. BNP Paribas Arbitrage SA now owns 10,093 shares of the company’s stock worth $236,000 after buying an additional 8,125 shares during the period. Institutional investors own 94.72% 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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