Principal Financial Group Inc. acquired a new stake in shares of Planet Fitness Inc. (NYSE:PLNT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 604,040 shares of the company’s stock, valued at approximately $11,404,000. Principal Financial Group Inc. owned 1.65% of Planet Fitness at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PLNT. Eagle Asset Management Inc. bought a new stake in Planet Fitness during the second quarter valued at about $16,199,000. Ameriprise Financial Inc. raised its stake in Planet Fitness by 35.8% in the second quarter. Ameriprise Financial Inc. now owns 388,376 shares of the company’s stock valued at $7,333,000 after buying an additional 102,355 shares in the last quarter. 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 valued at $1,428,000 after buying an additional 14,002 shares in the last quarter. Commonwealth Equity Services Inc raised its stake 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 in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Planet Fitness by 64.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 115,000 shares of the company’s stock valued at $2,171,000 after buying an additional 45,000 shares in the last quarter. 83.52% of the stock is owned by institutional investors.
Shares of Planet Fitness Inc. (NYSE:PLNT) opened at 19.71 on Thursday. The stock’s market capitalization is $876.88 million. Planet Fitness Inc. has a one year low of $13.23 and a one year high of $23.41. The company’s 50-day moving average is $20.46 and its 200-day moving average is $18.71.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $78.95 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Planet Fitness Inc. will post $0.47 earnings per share for the current year.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, June 29th. Piper Jaffray Cos. boosted their price target on shares of Planet Fitness from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, August 12th. Jefferies Group restated a “buy” rating and issued a $26.00 price target (up previously from $25.00) on shares of Planet Fitness in a report on Friday, August 12th. Credit Suisse Group AG restated an “outperform” rating and issued a $19.00 price target on shares of Planet Fitness in a report on Monday, June 27th. Finally, Imperial Capital boosted their price target on shares of Planet Fitness from $22.00 to $25.00 and gave the company an “outperform” rating in a 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. Planet Fitness currently has an average rating of “Buy” and an average target price of $21.95.
In other news, Director Pierre Lecomte sold 8,000,000 shares of Planet Fitness stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $19.62, for a total value of $156,960,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $19.91, for a total transaction of $398,200.00. The disclosure for this sale can be found here. 32.39% of the stock is currently owned by insiders.
About Planet Fitness
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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