Bank of New York Mellon Corp increased its position in Planet Fitness Inc. (NYSE:PLNT) by 122.7% during the second quarter, Holdings Channel reports. The fund owned 117,057 shares of the company’s stock after buying an additional 64,500 shares during the period. Bank of New York Mellon Corp owned about 0.32% of Planet Fitness worth $2,211,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of PLNT. Commonwealth Equity Services Inc boosted its position in shares of Planet Fitness by 3.8% in the first quarter. Commonwealth Equity Services Inc now owns 15,575 shares of the company’s stock worth $253,000 after buying an additional 575 shares during the last quarter. Barclays PLC boosted its position in shares of Planet Fitness by 110.2% in the first quarter. Barclays PLC now owns 28,800 shares of the company’s stock worth $461,000 after buying an additional 15,100 shares during the last quarter. Capital One National Association acquired a new stake in Planet Fitness during the second quarter worth approximately $1,417,000. Geode Capital Management LLC raised its stake in Planet Fitness by 18.9% in the first quarter. Geode Capital Management LLC now owns 87,969 shares of the company’s stock worth $1,428,000 after buying an additional 14,002 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in Planet Fitness during the first quarter worth approximately $2,994,000. 83.52% of the stock is owned by institutional investors and hedge funds.
Planet Fitness Inc. (NYSE:PLNT) traded up 1.16% on Wednesday, hitting $20.05. The stock had a trading volume of 157,328 shares. Planet Fitness Inc. has a 12-month low of $13.23 and a 12-month high of $23.41. The company’s market capitalization is $892.00 million. The company has a 50 day moving average of $20.84 and a 200 day moving average of $18.57.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. The company earned $91.50 million during the quarter, compared to the consensus estimate of $78.95 million. Planet Fitness had a net margin of 1.74% and a return on equity of 2,244.54%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. On average, equities analysts expect that Planet Fitness Inc. will post $0.47 earnings per share for the current year.
A number of equities research analysts recently commented on PLNT shares. 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 report on Friday, August 12th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, August 16th. Wedbush restated an “outperform” rating and set a $23.00 price target (up from $21.00) on shares of Planet Fitness in a research report on Thursday, August 11th. Credit Suisse Group AG restated an “outperform” rating and set a $19.00 price target on shares of Planet Fitness in a research report on Monday, June 27th. Finally, Imperial Capital increased their price target on Planet Fitness from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.95.
In other news, Director Pierre Lecomte sold 8,000,000 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $19.62, for a total transaction of $156,960,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard L. Moore sold 8,200 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $21.00, for a total transaction of $172,200.00. Following the transaction, the insider now owns 8,200 shares of the company’s stock, valued at $172,200. The disclosure for this sale can be found here. Insiders own 32.39% 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 its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic.
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