Van Berkom & Associates Inc. Sells 145,985 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Van Berkom & Associates Inc. reduced its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 12.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,061,865 shares of the company’s stock after selling 145,985 shares during the quarter. Planet Fitness makes up about 2.3% of Van Berkom & Associates Inc.’s portfolio, making the stock its 20th biggest holding. Van Berkom & Associates Inc. owned 1.20% of Planet Fitness worth $78,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Planet Fitness by 17.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock worth $65,549,000 after buying an additional 133,541 shares during the period. Broad Bay Capital Management LP boosted 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 worth $89,279,000 after acquiring an additional 163,000 shares during the period. Vanguard Group Inc. lifted its stake in Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after purchasing an additional 97,823 shares in the last quarter. Bessemer Group Inc. lifted its stake in Planet Fitness by 24.9% during the first quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock worth $14,335,000 after purchasing an additional 45,623 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Planet Fitness during the 1st quarter valued at about $1,786,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Up 0.3 %

PLNT stock traded up $0.22 during trading on Monday, hitting $81.78. The company had a trading volume of 7,859 shares, compared to its average volume of 1,637,836. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $83.36. The firm has a 50-day moving average price of $77.05 and a 200-day moving average price of $68.62. The firm has a market cap of $6.97 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 2.73 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.94% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PLNT has been the topic of several recent analyst reports. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a research note on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Robert W. Baird reaffirmed an “outperform” rating and set a $92.00 target price on shares of Planet Fitness in a report on Monday, August 26th. TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and lifted their target price for the company from $66.00 to $92.00 in a research note on Monday, June 24th. Finally, Piper Sandler boosted their target price on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.87.

Planet Fitness 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.