Planet Fitness, Inc. (NYSE:PLNT) Shares Purchased by Cadian Capital Management LP
Cadian Capital Management LP boosted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 113.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,527,500 shares of the company’s stock after purchasing an additional 812,000 shares during the period. Planet Fitness accounts for approximately 4.9% of Cadian Capital Management LP’s holdings, making the stock its 10th largest holding. Cadian Capital Management LP owned approximately 1.71% of Planet Fitness worth $103,015,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. B. Riley Asset Management LLC acquired a new stake in Planet Fitness during the 2nd quarter valued at $1,457,000. Keebeck Wealth Management LLC boosted its position in Planet Fitness by 121.2% in the 2nd quarter. Keebeck Wealth Management LLC now owns 7,703 shares of the company’s stock valued at $519,000 after buying an additional 4,220 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Planet Fitness by 4.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,665 shares of the company’s stock valued at $449,000 after buying an additional 312 shares during the last quarter. Marshall Wace LLP bought a new position in Planet Fitness in the 2nd quarter valued at $5,812,000. Finally, State Street Corp boosted its position in Planet Fitness by 78.4% in the 2nd quarter. State Street Corp now owns 2,295,657 shares of the company’s stock valued at $154,819,000 after buying an additional 1,008,875 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Planet Fitness news, Director Christopher Rondeau sold 1,000,000 shares of Planet Fitness stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $66.55, for a total value of $66,550,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.94% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research analysts have commented on the company. Morgan Stanley increased their price objective on Planet Fitness from $65.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. TD Cowen lowered Planet Fitness from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $72.00 to $55.00 in a research report on Friday, September 15th. Jefferies Financial Group lowered Planet Fitness from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $56.00 in a research report on Monday, September 18th. Raymond James increased their price objective on Planet Fitness from $66.00 to $73.00 and gave the company a “strong-buy” rating in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus reduced their price target on Planet Fitness from $75.00 to $65.00 in a research report on Monday, September 18th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.88.
Read Our Latest Stock Analysis on Planet Fitness
Planet Fitness Stock Down 0.6 %
Planet Fitness stock traded down $0.40 during mid-day trading on Friday, hitting $67.65. 891,700 shares of the company’s stock were exchanged, compared to its average volume of 1,077,552. The firm has a market capitalization of $5.96 billion, a P/E ratio of 42.02, a PEG ratio of 1.53 and a beta of 1.36. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $85.90. The company’s 50 day simple moving average is $58.77 and its 200-day simple moving average is $61.27.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.55 by $0.04. The business had revenue of $277.60 million for the quarter, compared to the consensus estimate of $268.18 million. Planet Fitness had a negative return on equity of 102.85% and a net margin of 12.80%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Research analysts expect that Planet Fitness, Inc. will post 2.21 EPS for the current year.
Planet Fitness Company Profile (Free Report)
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company 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, Panama, Mexico, and Australia.
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