Oak Ridge Investments LLC grew its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,208,740 shares of the company’s stock after buying an additional 65,453 shares during the quarter. Oak Ridge Investments LLC owned about 1.67% of Planet Fitness worth $28,212,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Teachers Advisors LLC raised its holdings in Planet Fitness by 72.7% during the fourth quarter. Teachers Advisors LLC now owns 44,550 shares of the company’s stock worth $895,000 after purchasing an additional 18,754 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Planet Fitness by 34.8% during the first quarter. State of New Jersey Common Pension Fund D now owns 155,000 shares of the company’s stock worth $2,987,000 after purchasing an additional 40,000 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Planet Fitness by 11.3% during the first quarter. Wells Fargo & Company MN now owns 818,168 shares of the company’s stock worth $15,766,000 after purchasing an additional 82,828 shares during the last quarter. American Century Companies Inc. acquired a new position in Planet Fitness during the first quarter worth $5,418,000. Finally, Capital Fund Management S.A. acquired a new position in Planet Fitness during the first quarter worth $499,000.
Several brokerages recently issued reports on PLNT. Cowen and Company reaffirmed an “outperform” rating and set a $28.00 price objective (up from $23.00) on shares of Planet Fitness in a report on Thursday, August 10th. Roth Capital set a $23.00 price objective on Planet Fitness and gave the stock a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $29.00 price objective (up from $26.00) on shares of Planet Fitness in a report on Thursday, August 10th. Zacks Investment Research cut Planet Fitness from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Finally, BidaskClub raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Planet Fitness has an average rating of “Buy” and an average target price of $27.33.
Planet Fitness, Inc. (NYSE:PLNT) traded up 1.24% during trading on Monday, hitting $25.21. The stock had a trading volume of 186,521 shares. Planet Fitness, Inc. has a 1-year low of $18.32 and a 1-year high of $25.60. The firm’s 50-day moving average price is $23.94 and its 200-day moving average price is $21.78. The stock has a market cap of $2.16 billion, a PE ratio of 43.47 and a beta of 0.85.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. The company had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that Planet Fitness, Inc. will post $0.47 earnings per share for the current fiscal year.
Planet Fitness 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 the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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