BlackRock Fund Advisors has recently announced that it has increased stake in Planet Fitness Inc (NYSE:PLNT) by 1.19%. After grabbing 7.36 million shares, the institutional investor is now in possession of 86571.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 8.62% having worth around $537.32 million. Moreover, Amundi Asset Management US, Inc. increased its share by 1.67 million to have a control over 4.93 million shares. And BlackRock Advisors LLC raised its holdings to 0.25 million shares by acquiring 4.35 million shares or 5.09% of the stake.
Planet Fitness Inc (PLNT) concluded trading on Thursday at a closing price of $70.11, with 2.77 million shares of worth about $194.03 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 3.64% during that period and on Thursday, January 25 the price saw a loss of about -0.27%. Currently the company’s common shares owned by public are about 85.44M shares, out of which, 84.78M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 40 times over the past 12 months. They bought 86,539 shares in 36 of the transactions. In 4 selling transactions, insiders dumped 224 shares.
BlackRock Mid Cap Growth Equity P, Vanguard Total Stock Market ETF, and iShares Core S&P Mid Cap ETF are the top 3 mutual funds which are holding stakes in Planet Fitness Inc BlackRock Mid Cap Growth Equity P is currently holding 3.29 million shares of worth totaling $240.46 million. The company recently came selling -0.34 million shares which brought its stake up to 3.86% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 58680.0 shares, after which its hold over company’s outstanding shares expand to 3.16%, leaving 2.7 million shares with the mutual fund that have a worth of about $197.37 million. iShares Core S&P Mid Cap ETF, after buying 2.6 million shares, have now control over 3.04% of the stake in the company. It holds 2350.0 shares of worth $189.5 million.
However, the stock later moved at a day high price of 71.64, or with a loss of -0.27%. Stock saw a price change of -6.42% in past 5 days and over the past one month there was a price change of -4.08%. Year-to-date (YTD), PLNT shares are showing a performance of -3.96% which decreased to -13.23% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $44.13 but also hit the highest price of $85.90 during that period. The average intraday trading volume for Planet Fitness Inc shares is 1.35 million. The stock is currently trading -4.31% below its 20-day simple moving average (SMA20), while that difference is up 0.24% for SMA50 and it goes to 7.89% higher than SMA200.
BlackRock Fund Advisors acquired 7.36 million shares of Planet Fitness Inc having value of about $537.32 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 86571.0 shares in the company valued at close to $6069492.81, or have control over 1.19% stake in the company. Planet Fitness Inc (NYSE: PLNT) currently have 85.44M outstanding shares and institutions hold larger chunk of about 105.51% of that. Holding of mutual funds in the company is about 56.56% while other institutional holders and individual stake holders have control over 6.55% and 49.06% of the stake respectively.
The stock has a current market capitalization of $5.99B and its 3Y-monthly beta is at 1.44. PE ratio of stock for trailing 12 months is 43.41, while it has posted earnings per share of $1.62 in the same period. It has Quick Ratio of 1.95. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PLNT, volatility over the week remained 3.27% while standing at 2.29% over the month.
Analysts are in expectations that Planet Fitness Inc (PLNT) stock would likely to be making an EPS of $0.58 in the current quarter, while forecast for next quarter EPS is $0.52 and it is $2.51 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.55 which is $0.62 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.53 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 34.88% while it is estimated to increase by 13.79% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Exane BNP Paribas on October 16, 2023 offering a Neutral rating for the stock and assigned a target price of $45 to it.
