Newbrook Capital Advisors LP lowered its position in shares of Planet Fitness Inc (NYSE:PLNT) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,266,420 shares of the company’s stock after selling 64,625 shares during the period. Planet Fitness makes up about 7.6% of Newbrook Capital Advisors LP’s investment portfolio, making the stock its 4th largest position. Newbrook Capital Advisors LP’s holdings in Planet Fitness were worth $113,116,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dai Ichi Life Insurance Company Ltd purchased a new stake in shares of Planet Fitness during the third quarter valued at approximately $3,722,000. Sheets Smith Wealth Management bought a new stake in shares of Planet Fitness in the fourth quarter worth $364,000. Brown Advisory Inc. bought a new stake in shares of Planet Fitness in the third quarter worth $427,000. KAMES CAPITAL plc bought a new stake in shares of Planet Fitness in the fourth quarter worth $1,339,000. Finally, California Public Employees Retirement System increased its stake in shares of Planet Fitness by 10.5% in the third quarter. California Public Employees Retirement System now owns 23,200 shares of the company’s stock worth $626,000 after buying an additional 2,200 shares during the last quarter. Institutional investors own 98.02% of the company’s stock.
In other Planet Fitness news, CEO Christopher Rondeau sold 40,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $30.42, for a total transaction of $1,216,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 340,000 shares of company stock valued at $11,418,000. 19.87% of the stock is owned by insiders.
A number of analysts recently issued reports on the stock. DA Davidson assumed coverage on shares of Planet Fitness in a research note on Monday, November 20th. They issued a “buy” rating for the company. Piper Jaffray Companies restated an “overweight” rating on shares of Planet Fitness in a research note on Monday, December 18th. Jefferies Group restated a “hold” rating and issued a $35.00 price target on shares of Planet Fitness in a research note on Friday, February 23rd. Guggenheim restated a “buy” rating on shares of Planet Fitness in a research note on Friday, February 23rd. Finally, Cowen set a $41.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $36.38.
Shares of Planet Fitness Inc (PLNT) opened at $39.35 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of -5.09. Planet Fitness Inc has a 12 month low of $18.32 and a 12 month high of $40.04. The firm has a market cap of $3,870.00 and a price-to-earnings ratio of 9.15.
Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, February 22nd. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Planet Fitness had a net margin of 7.71% and a negative return on equity of 52.97%. The firm had revenue of $134.00 million during the quarter, compared to analyst estimates of $131.11 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. equities research analysts forecast that Planet Fitness Inc will post 1.18 EPS for the current year.
Planet Fitness announced that its board has authorized a stock repurchase plan on Thursday, February 22nd that allows the company to buyback $80.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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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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