TIAA CREF Investment Management LLC cut its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 53.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,324 shares of the company’s stock after selling 90,946 shares during the period. TIAA CREF Investment Management LLC owned about 0.13% of Planet Fitness worth $1,548,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Princeton Alpha Management LP bought a new stake in Planet Fitness during the first quarter worth about $224,000. Guggenheim Capital LLC bought a new stake in Planet Fitness during the fourth quarter worth about $228,000. First Mercantile Trust Co. increased its stake in Planet Fitness by 19.8% in the first quarter. First Mercantile Trust Co. now owns 13,632 shares of the company’s stock worth $262,000 after buying an additional 2,249 shares during the period. American International Group Inc. increased its stake in Planet Fitness by 75.7% in the first quarter. American International Group Inc. now owns 15,869 shares of the company’s stock worth $306,000 after buying an additional 6,835 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in Planet Fitness by 49.6% in the first quarter. UBS Asset Management Americas Inc. now owns 17,502 shares of the company’s stock worth $337,000 after buying an additional 5,800 shares during the period. 94.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Planet Fitness, Inc. (NYSE:PLNT) traded down 2.31% during midday trading on Friday, reaching $24.55. 2,401,579 shares of the company traded hands. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 42.33 and a beta of 0.90. The company’s 50 day moving average is $23.23 and its 200-day moving average is $21.34. Planet Fitness, Inc. has a 12 month low of $18.32 and a 12 month high of $25.19.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The firm had revenue of $107.31 million for the quarter, compared to analysts’ expectations of $101.99 million. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. Planet Fitness’s revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. Equities research analysts forecast that Planet Fitness, Inc. will post $0.47 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday, July 12th. Guggenheim reissued a “buy” rating and issued a $24.00 price target on shares of Planet Fitness in a research note on Monday, April 24th. Imperial Capital boosted their price target on shares of Planet Fitness from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $29.00 price target (up from $26.00) on shares of Planet Fitness in a research note on Thursday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Planet Fitness has a consensus rating of “Buy” and a consensus target price of $26.20.
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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