Copper Rock Capital Partners LLC reduced its stake in shares of Planet Fitness Inc. (NYSE:PLNT) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,011,902 shares of the company’s stock after selling 9,254 shares during the period. Copper Rock Capital Partners LLC’s holdings in Planet Fitness were worth $20,248,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLNT. BlackRock Advisors LLC increased its stake in Planet Fitness by 3.2% in the second quarter. BlackRock Advisors LLC now owns 7,732 shares of the company’s stock valued at $146,000 after buying an additional 240 shares in the last quarter. American International Group Inc. increased its stake in Planet Fitness by 3.3% in the second quarter. American International Group Inc. now owns 9,045 shares of the company’s stock valued at $171,000 after buying an additional 288 shares in the last quarter. Fortaleza Asset Management Inc. increased its stake in Planet Fitness by 61.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,900 shares of the company’s stock valued at $187,000 after buying an additional 3,785 shares in the last quarter. Nationwide Fund Advisors increased its stake in Planet Fitness by 4.6% in the second quarter. Nationwide Fund Advisors now owns 10,261 shares of the company’s stock valued at $194,000 after buying an additional 452 shares in the last quarter. Finally, Raymond James & Associates acquired a new stake in Planet Fitness during the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 83.52% of the company’s stock.
Planet Fitness Inc. (NYSE:PLNT) opened at 19.95 on Friday. The stock has a 50 day moving average of $20.73 and a 200-day moving average of $18.59. The firm’s market cap is $887.56 million. Planet Fitness Inc. has a 52 week low of $13.23 and a 52 week high of $23.41.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, August 11th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. Planet Fitness had a net margin of 1.74% and a return on equity of 2,244.54%. The company had revenue of $91.50 million for the quarter, compared to the consensus estimate of $78.95 million. During the same period last year, the company earned $0.13 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. Analysts expect that Planet Fitness Inc. will post $0.47 earnings per share for the current year.
Several research firms have commented on PLNT. Imperial Capital boosted their target price on shares of Planet Fitness from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Cowen and Company reaffirmed an “outperform” rating and set a $24.00 price objective (up from $19.00) on shares of Planet Fitness in a report on Saturday, August 13th. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, August 16th. Jefferies Group reaffirmed a “buy” rating and set a $26.00 price objective (up from $25.00) on shares of Planet Fitness in a report on Friday, August 12th. Finally, Piper Jaffray Cos. upped their price objective on shares of Planet Fitness from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, August 12th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $21.95.
In other news, insider Richard L. Moore sold 8,200 shares of Planet Fitness stock in a transaction that occurred 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 in the company, valued at $172,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pierre Lecomte sold 8,000,000 shares of Planet Fitness stock in a transaction that occurred 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 disclosure for this sale can be found here. 32.39% of the stock is currently 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.
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