SeaTown Holdings Pte. Ltd. acquired a new position in shares of Planet Fitness Inc (NYSE:PLNT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 90,000 shares of the company’s stock, valued at approximately $6,520,000. Planet Fitness accounts for 1.2% of SeaTown Holdings Pte. Ltd.’s investment portfolio, making the stock its 27th biggest holding.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stevens Capital Management LP bought a new position in shares of Planet Fitness in the 2nd quarter worth $339,000. Janus Henderson Group PLC lifted its holdings in shares of Planet Fitness by 31.3% in the 2nd quarter. Janus Henderson Group PLC now owns 5,813 shares of the company’s stock worth $421,000 after purchasing an additional 1,387 shares in the last quarter. TradeLink Capital LLC bought a new position in shares of Planet Fitness in the 2nd quarter worth $217,000. Aperio Group LLC lifted its holdings in shares of Planet Fitness by 4.7% in the 2nd quarter. Aperio Group LLC now owns 16,832 shares of the company’s stock worth $1,219,000 after purchasing an additional 755 shares in the last quarter. Finally, First National Corp MA ADV lifted its holdings in shares of Planet Fitness by 64.5% in the 2nd quarter. First National Corp MA ADV now owns 4,935 shares of the company’s stock worth $357,000 after purchasing an additional 1,935 shares in the last quarter. 93.17% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on PLNT shares. Macquarie upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $64.00 to $85.00 in a report on Tuesday, May 7th. Cowen restated an “average” rating and set a $85.00 price objective (up from $65.00) on shares of Planet Fitness in a research note on Monday, April 29th. Imperial Capital restated an “in-line” rating and set a $72.50 price objective (up from $55.00) on shares of Planet Fitness in a research note on Friday. Raymond James started coverage on Planet Fitness in a research note on Wednesday, June 26th. They set an “outperform” rating and a $80.00 price objective on the stock. Finally, Roth Capital raised their price objective on Planet Fitness from $80.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Planet Fitness currently has a consensus rating of “Buy” and a consensus price target of $72.25.
Shares of Planet Fitness stock traded up $1.19 during trading hours on Tuesday, hitting $72.82. 68,060 shares of the company’s stock traded hands, compared to its average volume of 1,289,926. Planet Fitness Inc has a 12-month low of $44.97 and a 12-month high of $81.90. The stock has a market capitalization of $6.87 billion, a PE ratio of 59.54, a price-to-earnings-growth ratio of 2.16 and a beta of 0.59. The stock’s fifty day moving average is $75.74.
Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. Planet Fitness had a negative return on equity of 47.77% and a net margin of 16.29%. The firm had revenue of $181.66 million during the quarter, compared to analyst estimates of $167.91 million. During the same period last year, the firm posted $0.34 EPS. The business’s revenue was up 29.2% compared to the same quarter last year. Research analysts forecast that Planet Fitness Inc will post 1.57 EPS for the current year.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
Recommended Story: Limitations of the P/E Growth ratio
Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness Inc (NYSE:PLNT).
Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.