Mirae Asset Global Investments Co. Ltd. grew its position in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 268.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,661 shares of the company’s stock after acquiring an additional 55,106 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Planet Fitness worth $6,391,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in PLNT. O Dell Group LLC bought a new position in Planet Fitness during the 1st quarter worth $30,000. Standard Family Office LLC grew its stake in Planet Fitness by 1,147.1% during the 1st quarter. Standard Family Office LLC now owns 848 shares of the company’s stock worth $72,000 after buying an additional 780 shares during the last quarter. Sandy Spring Bank bought a new position in Planet Fitness during the 1st quarter worth $84,000. Captrust Financial Advisors grew its stake in Planet Fitness by 23.0% during the 1st quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after buying an additional 219 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after buying an additional 157 shares during the last quarter. 95.15% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on PLNT. BNP Paribas upgraded Planet Fitness from an “underperform” rating to a “neutral” rating and set a $75.00 price objective for the company in a research note on Thursday, July 7th. Exane BNP Paribas upgraded Planet Fitness from an “underperform” rating to a “neutral” rating in a research report on Thursday, July 7th. Cowen reduced their price target on Planet Fitness from $110.00 to $95.00 in a research report on Thursday, August 11th. Morgan Stanley reduced their price target on Planet Fitness from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. Finally, Stifel Nicolaus reduced their price target on Planet Fitness from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, September 8th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.38.
Planet Fitness Stock Down 3.4 %
Planet Fitness (NYSE:PLNT – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The business had revenue of $224.40 million during the quarter, compared to analyst estimates of $230.13 million. Planet Fitness had a negative return on equity of 24.38% and a net margin of 8.28%. The company’s revenue was up 63.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Analysts anticipate that Planet Fitness, Inc. will post 1.53 earnings per share for the current fiscal year.
Planet Fitness Profile
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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