Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Bamco Inc. NY

Bamco Inc. NY reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 5.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,250,000 shares of the company’s stock after selling 75,000 shares during the quarter. Bamco Inc. NY’s holdings in Planet Fitness were worth $101,525,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PLNT. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Planet Fitness in the third quarter worth $478,000. Point72 Hong Kong Ltd bought a new position in Planet Fitness in the 3rd quarter valued at about $200,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Planet Fitness by 8.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,448 shares of the company’s stock valued at $1,255,000 after buying an additional 1,210 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Planet Fitness during the 3rd quarter valued at about $1,990,000. Finally, FMR LLC raised its position in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after buying an additional 691,761 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price objective (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Roth Mkm boosted their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Robert W. Baird raised their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.38.

Insider Activity

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.94% of the stock is owned by corporate insiders.

Planet Fitness Stock Performance

NYSE PLNT opened at $99.55 on Monday. The firm’s 50 day moving average price is $86.75 and its two-hundred day moving average price is $78.73. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.81. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 53.52, a PEG ratio of 3.31 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, research analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal 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.