Newbrook Capital Advisors LP reduced its holdings in shares of Planet Fitness Inc (NYSE:PLNT) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,266,420 shares of the company’s stock after selling 64,625 shares during the quarter. Planet Fitness makes up 7.6% of Newbrook Capital Advisors LP’s investment portfolio, making the stock its 4th largest position. Newbrook Capital Advisors LP owned approximately 3.32% of Planet Fitness worth $113,116,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. First Trust Advisors LP boosted its stake in shares of Planet Fitness by 38.6% during the 3rd quarter. First Trust Advisors LP now owns 104,759 shares of the company’s stock worth $2,826,000 after purchasing an additional 29,163 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Planet Fitness during the 3rd quarter worth about $1,349,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Planet Fitness during the 3rd quarter worth about $396,000. Prudential Financial Inc. acquired a new stake in shares of Planet Fitness during the 3rd quarter worth about $214,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Planet Fitness by 1.9% during the 3rd quarter. New York State Common Retirement Fund now owns 365,959 shares of the company’s stock worth $9,874,000 after purchasing an additional 6,944 shares during the last quarter. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Several research firms have issued reports on PLNT. Roth Capital set a $41.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, March 1st. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Tuesday, February 27th. Guggenheim reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Friday, February 23rd. 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. Finally, Jefferies Group reaffirmed a “hold” rating and set a $35.00 price target on shares of Planet Fitness in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $36.38.
Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, February 22nd. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $131.11 million. During the same period last year, the company earned $0.20 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. analysts anticipate that Planet Fitness Inc will post 1.18 EPS for the current fiscal year.
Planet Fitness declared that its Board of Directors has authorized a share repurchase plan on Thursday, February 22nd that allows the company to buyback $80.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, CEO Christopher Rondeau sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $30.42, for a total value of $1,216,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 340,000 shares of company stock worth $11,418,000 over the last three months. Corporate insiders own 19.87% 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.
Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness Inc (NYSE:PLNT).
Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.