Nuveen Asset Management LLC bought a new position in Planet Fitness, Inc. (NYSE:PLNT) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 64,062 shares of the company’s stock, valued at approximately $1,234,000. Nuveen Asset Management LLC owned 0.09% of Planet Fitness as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in PLNT. State Street Corp increased its stake in Planet Fitness by 58.2% in the fourth quarter. State Street Corp now owns 430,303 shares of the company’s stock worth $8,645,000 after buying an additional 158,345 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Planet Fitness during the fourth quarter worth $4,092,000. Allianz Asset Management AG increased its stake in Planet Fitness by 27.5% in the fourth quarter. Allianz Asset Management AG now owns 32,890 shares of the company’s stock worth $661,000 after buying an additional 7,090 shares during the period. Renaissance Technologies LLC increased its stake in Planet Fitness by 54.4% in the fourth quarter. Renaissance Technologies LLC now owns 442,400 shares of the company’s stock worth $8,892,000 after buying an additional 155,900 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in Planet Fitness by 87.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,063 shares of the company’s stock worth $383,000 after buying an additional 8,916 shares during the period. Hedge funds and other institutional investors own 94.52% of the company’s stock.
Planet Fitness, Inc. (NYSE PLNT) opened at 23.12 on Friday. The stock has a 50 day moving average of $22.76 and a 200-day moving average of $21.01. Planet Fitness, Inc. has a 1-year low of $18.32 and a 1-year high of $25.10. The firm has a market capitalization of $1.68 billion, a P/E ratio of 42.97 and a beta of 0.93.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The business had revenue of $91.10 million for the quarter, compared to analysts’ expectations of $91.33 million. Planet Fitness had a net margin of 6.99% and a negative return on equity of 79.66%. On average, equities research analysts anticipate that Planet Fitness, Inc. will post $0.47 earnings per share for the current year.
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A number of equities research analysts have recently commented on the company. Wedbush downgraded Planet Fitness from an “outperform” rating to a “neutral” rating in a research report on Friday, March 24th. They noted that the move was a valuation call. Jefferies Group LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Planet Fitness in a research report on Monday, April 3rd. Robert W. Baird reiterated an “outperform” rating and set a $28.00 price objective on shares of Planet Fitness in a research report on Thursday, April 6th. Guggenheim reiterated a “buy” rating and set a $24.00 price objective on shares of Planet Fitness in a research report on Thursday, April 6th. Finally, Roth Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Planet Fitness in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $25.09.
In other Planet Fitness news, CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $20.19, for a total transaction of $403,800.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles Esserman sold 16,085,510 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $20.28, for a total transaction of $326,214,142.80. The disclosure for this sale can be found here. Insiders sold a total of 16,125,510 shares of company stock worth $327,023,543 over the last ninety days. 19.87% of the stock is currently owned by insiders.
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 the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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