Eagle Asset Management Inc. Boosts Stake in Planet Fitness Inc. (PLNT)
Eagle Asset Management Inc. raised its position in shares of Planet Fitness Inc. (NYSE:PLNT) by 10.0% during the third quarter, Holdings Channel reports. The fund owned 943,873 shares of the company’s stock after buying an additional 85,852 shares during the period. Eagle Asset Management Inc.’s holdings in Planet Fitness were worth $18,943,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. BlackRock Advisors LLC raised 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 worth $146,000 after buying an additional 240 shares in the last quarter. American International Group Inc. raised 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 worth $171,000 after buying an additional 288 shares during the period. Commonwealth Equity Services Inc raised its stake in Planet Fitness by 2.4% in the second quarter. Commonwealth Equity Services Inc now owns 15,948 shares of the company’s stock worth $301,000 after buying an additional 373 shares during the period. Nationwide Fund Advisors raised 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 worth $194,000 after buying an additional 452 shares during the period. Finally, Barclays PLC raised its stake in Planet Fitness by 11.0% in the second quarter. Barclays PLC now owns 31,976 shares of the company’s stock worth $603,000 after buying an additional 3,176 shares during the period. 84.52% of the stock is owned by institutional investors.
Shares of Planet Fitness Inc. (NYSE:PLNT) traded down 0.95% during trading on Tuesday, reaching $20.79. The company’s stock had a trading volume of 162,084 shares. Planet Fitness Inc. has a 52 week low of $13.23 and a 52 week high of $25.10. The company has a market cap of $1.04 billion, a PE ratio of 75.60 and a beta of 0.85. The stock’s 50 day moving average price is $21.11 and its 200 day moving average price is $20.07.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.02. Planet Fitness had a return on equity of 485.81% and a net margin of 3.65%. The business had revenue of $87 million for the quarter, compared to analysts’ expectations of $79.32 million. During the same quarter in the previous year, the business posted $0.10 EPS. Planet Fitness’s revenue for the quarter was up 26.5% on a year-over-year basis. Equities research analysts predict that Planet Fitness Inc. will post $0.47 EPS for the current year.
The firm also recently disclosed a special dividend, which will be paid on Monday, December 5th. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $2.78 per share. The ex-dividend date of this dividend is Friday, November 18th.
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A number of research firms have recently issued reports on PLNT. Jefferies Group reissued a “buy” rating and issued a $27.00 price target (up from $26.00) on shares of Planet Fitness in a research report on Thursday, October 27th. Guggenheim reissued a “buy” rating and issued a $24.00 price target (up from $23.00) on shares of Planet Fitness in a research report on Thursday, October 27th. Cowen and Company reissued an “outperform” rating and issued a $24.00 price target (up from $19.00) on shares of Planet Fitness in a research report on Saturday, August 13th. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Finally, Wedbush reissued an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Planet Fitness in a research report on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.18.
In other Planet Fitness news, CEO Christopher Rondeau sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $24.57, for a total value of $49,140.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Richard L. Moore sold 8,200 shares of the business’s 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 completion of the sale, the insider now owns 8,200 shares in the company, valued at approximately $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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