Planet Fitness, Inc. (NYSE:PLNT) Insider Sells $1,101,778.60 in Stock

Planet Fitness, Inc. (NYSE:PLNT) insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Planet Fitness Stock Up 1.8 %

Planet Fitness stock traded up $1.76 during mid-day trading on Monday, reaching $97.03. 1,031,560 shares of the company’s stock were exchanged, compared to its average volume of 1,541,961. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $98.59. The company has a fifty day moving average of $83.58 and a 200-day moving average of $76.50. The company has a market cap of $8.26 billion, a P/E ratio of 52.17, a P/E/G ratio of 3.17 and a beta of 1.49.

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

Institutional Trading of Planet Fitness

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new position in Planet Fitness during the 2nd quarter worth approximately $166,978,000. Anomaly Capital Management LP purchased a new position in Planet Fitness during the 2nd quarter worth $106,795,000. Point72 Asset Management L.P. increased its stake in Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after purchasing an additional 829,509 shares during the period. FMR LLC raised its holdings in shares of Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after buying an additional 691,761 shares during the last quarter. Finally, Steadfast Capital Management LP boosted its stake in shares of Planet Fitness by 97.7% during the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after buying an additional 682,863 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLNT. Stifel Nicolaus lifted their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Roth Mkm lifted their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Raymond James upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.81.

About Planet Fitness

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.