Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP decreased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 55.6% during the 3rd quarter, Holdings Channel reports. The firm owned 31,184 shares of the company’s stock after selling 39,125 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Planet Fitness were worth $2,533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PLNT. GAMMA Investing LLC increased its position in shares of Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC grew its holdings in shares of Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after buying an additional 153 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after buying an additional 201 shares during the last quarter. Quarry LP lifted its stake in shares of Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares in the last quarter. Finally, Dnca Finance purchased a new position in shares of Planet Fitness in the second quarter worth about $82,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

NYSE PLNT opened at $100.95 on Tuesday. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $102.20. The stock has a market capitalization of $8.54 billion, a P/E ratio of 54.27, a PEG ratio of 3.37 and a beta of 1.49. The firm’s 50-day moving average is $85.36 and its two-hundred day moving average is $77.83.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The firm had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. As a group, analysts anticipate that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Insider Transactions at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness 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. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PLNT shares. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a research note on Thursday, September 5th. Raymond James increased their price target on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Bank of America lifted their price target on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.