SG Americas Securities LLC trimmed its stake in shares of Planet Fitness Inc (NYSE:PLNT) by 98.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,244 shares of the company’s stock after selling 163,233 shares during the quarter. SG Americas Securities LLC’s holdings in Planet Fitness were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in PLNT. Bank of Montreal Can grew its holdings in Planet Fitness by 157.1% in the 2nd quarter. Bank of Montreal Can now owns 486 shares of the company’s stock worth $35,000 after buying an additional 297 shares in the last quarter. HM Payson & Co. bought a new position in Planet Fitness during the 2nd quarter valued at $47,000. Captrust Financial Advisors boosted its stake in Planet Fitness by 298.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,023 shares of the company’s stock valued at $74,000 after purchasing an additional 766 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Planet Fitness during the 2nd quarter valued at $80,000. Finally, Usca Ria LLC bought a new position in Planet Fitness during the 3rd quarter valued at $93,000. Institutional investors and hedge funds own 90.12% of the company’s stock.
PLNT has been the subject of a number of research reports. Macquarie reaffirmed a “buy” rating and set a $90.00 price target on shares of Planet Fitness in a research note on Monday, November 25th. Imperial Capital increased their price target on Planet Fitness from $72.50 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Zacks Investment Research lowered Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 price target for the company. in a research note on Wednesday, November 6th. ValuEngine lowered Planet Fitness from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Berenberg Bank lowered Planet Fitness from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $80.00 to $69.00 in a research note on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $77.46.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $166.82 million during the quarter, compared to analyst estimates of $162.26 million. Planet Fitness had a negative return on equity of 37.57% and a net margin of 16.80%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $0.28 EPS. On average, equities research analysts expect that Planet Fitness Inc will post 1.57 EPS for the current fiscal year.
About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It 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, the Dominican Republic, and Panama.
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