Hilton Capital Management LLC bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 20,783 shares of the company's stock, valued at approximately $1,688,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Premier Fund Managers Ltd acquired a new stake in shares of Planet Fitness in the 3rd quarter worth approximately $775,000. Quest Partners LLC raised its holdings in shares of Planet Fitness by 126.0% during the third quarter. Quest Partners LLC now owns 9,504 shares of the company's stock valued at $772,000 after acquiring an additional 5,298 shares during the period. Natixis Advisors LLC acquired a new position in Planet Fitness in the 3rd quarter valued at approximately $855,000. ING Groep NV acquired a new position in Planet Fitness in the 3rd quarter valued at approximately $1,568,000. Finally, Zions Bancorporation N.A. grew its position in Planet Fitness by 19.5% in the third quarter. Zions Bancorporation N.A. now owns 19,226 shares of the company's stock worth $1,562,000 after acquiring an additional 3,137 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PLNT has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Raymond James upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a "hold" rating and a $71.00 price target for the company. Finally, BNP Paribas raised shares of Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price target for the company in a report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.81.
Get Our Latest Research Report on PLNT
Planet Fitness Trading Up 0.4 %
Shares of NYSE PLNT traded up $0.41 during midday trading on Wednesday, hitting $98.28. 789,163 shares of the company's stock were exchanged, compared to its average volume of 1,536,229. The company has a market cap of $8.31 billion, a price-to-earnings ratio of 52.62, a PEG ratio of 3.17 and a beta of 1.49. The business's fifty day moving average price is $83.92 and its two-hundred day moving average price is $76.77. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $98.82.
Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Equities analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.
Insider Transactions at Planet Fitness
In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now owns 19,110 shares of the company's stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.83% of the company's stock.
About Planet Fitness
(
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 company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
Featured Articles
Before you consider Planet Fitness, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Planet Fitness wasn't on the list.
While Planet Fitness currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
