Kennedy Capital Management LLC Has $5.54 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Kennedy Capital Management LLC trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 33.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,522 shares of the company’s stock after selling 43,745 shares during the quarter. Kennedy Capital Management LLC’s holdings in Planet Fitness were worth $5,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PLNT. Oak Thistle LLC acquired a new stake in shares of Planet Fitness during the fourth quarter worth approximately $389,000. Dimensional Fund Advisors LP increased its stake in shares of Planet Fitness by 17.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock valued at $65,549,000 after buying an additional 133,541 shares in the last quarter. Broad Bay Capital Management LP raised its holdings in shares of Planet Fitness by 15.4% in the fourth quarter. Broad Bay Capital Management LP now owns 1,223,000 shares of the company’s stock valued at $89,279,000 after buying an additional 163,000 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Planet Fitness by 80.4% during the 4th quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock worth $937,000 after acquiring an additional 5,719 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after acquiring an additional 97,823 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PLNT shares. Raymond James increased their price target on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and increased their price objective for the company from $62.00 to $100.00 in a research report on Monday, June 10th. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and dropped their target price for the stock from $80.00 to $70.00 in a research report on Friday, May 10th. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a report on Friday, June 14th. Finally, DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.

Planet Fitness Stock Down 0.5 %

Planet Fitness stock traded down $0.34 during mid-day trading on Wednesday, hitting $73.52. 257,995 shares of the company’s stock were exchanged, compared to its average volume of 1,632,718. The company’s 50 day simple moving average is $71.26 and its 200-day simple moving average is $66.85. The firm has a market capitalization of $6.48 billion, a P/E ratio of 42.46, a PEG ratio of 2.49 and a beta of 1.49. Planet Fitness, Inc. has a fifty-two week low of $44.13 and a fifty-two week high of $79.09.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $249.48 million. During the same quarter last year, the firm posted $0.41 earnings per share. Planet Fitness’s revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Planet Fitness, Inc. will post 2.43 EPS for the current year.

Planet Fitness Company Profile

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.