Quadrature Capital Ltd bought a new stake in Planet Fitness Inc (NYSE:PLNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 51,178 shares of the company’s stock, valued at approximately $1,773,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. American International Group Inc. grew its holdings in Planet Fitness by 3.2% in the 4th quarter. American International Group Inc. now owns 58,299 shares of the company’s stock valued at $2,019,000 after buying an additional 1,782 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Planet Fitness by 96.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 611,085 shares of the company’s stock valued at $21,162,000 after buying an additional 300,664 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in Planet Fitness by 17.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 51,981 shares of the company’s stock valued at $1,800,000 after buying an additional 7,564 shares during the last quarter. BlackRock Inc. grew its holdings in Planet Fitness by 5.4% in the 4th quarter. BlackRock Inc. now owns 5,383,805 shares of the company’s stock valued at $186,442,000 after buying an additional 273,727 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Planet Fitness in the 4th quarter valued at approximately $237,000.
Shares of Planet Fitness Inc (NYSE PLNT) opened at $36.78 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00. The firm has a market capitalization of $3,617.79, a P/E ratio of 43.79, a PEG ratio of 1.69 and a beta of 0.79. Planet Fitness Inc has a fifty-two week low of $18.32 and a fifty-two week high of $37.41.
Planet Fitness declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 22nd that allows the company to repurchase $80.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other Planet Fitness news, CFO Dorvin D. Lively sold 144,557 shares of Planet Fitness stock in a transaction on Monday, December 11th. The stock was sold at an average price of $31.80, for a total value of $4,596,912.60. Following the completion of the transaction, the chief financial officer now owns 38,674 shares in the company, valued at approximately $1,229,833.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Rondeau sold 120,000 shares of Planet Fitness stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $34.47, for a total value of $4,136,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 688,674 shares of company stock valued at $22,503,951 in the last 90 days. 19.87% of the stock is owned by corporate insiders.
A number of analysts have issued reports on the company. Zacks Investment Research lowered Planet Fitness from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Imperial Capital raised their target price on Planet Fitness from $33.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Guggenheim reaffirmed a “buy” rating on shares of Planet Fitness in a report on Friday. DA Davidson started coverage on Planet Fitness in a report on Monday, November 20th. They issued a “buy” rating on the stock. Finally, Jefferies Group reissued a “buy” rating and set a $33.00 price objective on shares of Planet Fitness in a report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $35.75.
Planet Fitness 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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