Copper Rock Capital Partners LLC boosted its position in Planet Fitness Inc (NYSE:PLNT) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,870,669 shares of the company’s stock after buying an additional 31,714 shares during the period. Planet Fitness accounts for 2.3% of Copper Rock Capital Partners LLC’s investment portfolio, making the stock its 14th largest position. Copper Rock Capital Partners LLC owned approximately 3.01% of Planet Fitness worth $36,422,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Columbus Circle Investors bought a new position in shares of Planet Fitness during the third quarter worth approximately $7,784,000. Hancock Holding Co. bought a new position in shares of Planet Fitness during the third quarter worth approximately $865,000. Engineers Gate Manager LP boosted its position in shares of Planet Fitness by 74.8% in the third quarter. Engineers Gate Manager LP now owns 55,643 shares of the company’s stock worth $1,117,000 after buying an additional 23,805 shares in the last quarter. Monashee Investment Management LLC boosted its position in shares of Planet Fitness by 232.5% in the third quarter. Monashee Investment Management LLC now owns 249,353 shares of the company’s stock worth $5,005,000 after buying an additional 174,359 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Planet Fitness by 43.4% in the third quarter. Swiss National Bank now owns 61,785 shares of the company’s stock worth $1,240,000 after buying an additional 18,700 shares in the last quarter. Hedge funds and other institutional investors own 90.78% of the company’s stock.
Shares of Planet Fitness Inc (NYSE:PLNT) opened at 18.65 on Friday. The stock has a 50 day moving average price of $19.69 and a 200 day moving average price of $20.53. Planet Fitness Inc has a one year low of $15.00 and a one year high of $25.10. The company has a market capitalization of $1.16 billion, a PE ratio of 37.53 and a beta of 0.91.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Wednesday, March 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Planet Fitness had a net margin of 3.65% and a return on equity of 485.81%. The firm earned $116.40 million during the quarter, compared to analyst estimates of $114.59 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Planet Fitness’s revenue for the quarter was up 10.0% 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 year.
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PLNT has been the topic of a number of recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $24.00 target price on shares of Planet Fitness in a report on Friday, December 23rd. Imperial Capital reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Planet Fitness in a report on Friday, March 3rd. Macquarie initiated coverage on Planet Fitness in a report on Thursday, January 5th. They issued an “outperform” rating and a $28.00 target price on the stock. Goldman Sachs Group Inc assumed coverage on Planet Fitness in a report on Thursday, January 5th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Zacks Investment Research cut Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 21st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $24.00.
In other news, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $20.31, for a total value of $406,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 220,000 shares of company stock valued at $4,374,400 in the last three months. Company insiders own 32.39% of the company’s stock.
About Planet Fitness
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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