Fmr LLC cut its position in Planet Fitness, Inc. (NYSE:PLNT) by 46.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,500 shares of the company’s stock after selling 14,600 shares during the quarter. Fmr LLC’s holdings in Planet Fitness were worth $385,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Planet Fitness by 30.2% in the second quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock worth $151,286,000 after purchasing an additional 1,504,593 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Planet Fitness by 127.4% during the second quarter. Northern Trust Corp now owns 995,926 shares of the company’s stock valued at $23,245,000 after acquiring an additional 558,013 shares in the last quarter. Penn Capital Management Co. Inc. increased its holdings in shares of Planet Fitness by 11.9% during the second quarter. Penn Capital Management Co. Inc. now owns 582,496 shares of the company’s stock valued at $13,616,000 after acquiring an additional 61,720 shares in the last quarter. D.A. Davidson & CO. acquired a new position in shares of Planet Fitness during the second quarter valued at about $145,000. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Planet Fitness by 134.8% during the second quarter. UBS Asset Management Americas Inc. now owns 41,089 shares of the company’s stock valued at $959,000 after acquiring an additional 23,587 shares in the last quarter.
In related news, CEO Christopher Rondeau sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $26.43, for a total value of $528,600.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Richard L. Moore sold 9,200 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $27.02, for a total value of $248,584.00. Following the completion of the sale, the chief accounting officer now owns 9,200 shares in the company, valued at approximately $248,584. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,840 shares of company stock worth $2,433,704. 19.87% of the stock is owned by insiders.
Several equities analysts have recently issued reports on the stock. Jefferies Group LLC restated a “buy” rating and set a $33.00 price objective on shares of Planet Fitness in a report on Friday. Cowen and Company restated a “buy” rating and set a $30.00 price objective on shares of Planet Fitness in a report on Friday. Bank of America Corporation upped their price objective on shares of Planet Fitness from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday. Imperial Capital upped their price objective on shares of Planet Fitness from $28.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Robert W. Baird restated an “outperform” rating and set a $31.00 price objective (up previously from $28.00) on shares of Planet Fitness in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Planet Fitness currently has a consensus rating of “Buy” and a consensus price target of $29.60.
Shares of Planet Fitness, Inc. (PLNT) opened at $30.12 on Friday. The company has a market capitalization of $2,962.36, a P/E ratio of 37.65, a P/E/G ratio of 1.96 and a beta of 0.84. Planet Fitness, Inc. has a 52-week low of $18.32 and a 52-week high of $30.22. The company has a debt-to-equity ratio of -5.00, a current ratio of 1.57 and a quick ratio of 1.28.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $97.50 million for the quarter, compared to analyst estimates of $93.55 million. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. Planet Fitness’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. equities analysts expect that Planet Fitness, Inc. will post 0.82 EPS for the current year.
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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.
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