Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,106 shares of the company’s stock after selling 30,353 shares during the quarter. Principal Financial Group Inc. owned about 0.34% of Planet Fitness worth $22,011,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after buying an additional 316 shares in the last quarter. LRI Investments LLC boosted its position in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Planet Fitness in the 1st quarter valued at $27,000. First Horizon Advisors Inc. raised its position in Planet Fitness by 24.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares during the period. Finally, Dnca Finance acquired a new position in shares of Planet Fitness during the second quarter worth about $82,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. DA Davidson restated a “neutral” rating and issued a $62.00 price target on shares of Planet Fitness in a report on Friday, June 14th. Piper Sandler raised their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Stifel Nicolaus lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and cut their price objective for the stock from $80.00 to $70.00 in a report on Friday, May 10th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Roth Mkm boosted their price target on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average target price of $80.07.

Planet Fitness Price Performance

Planet Fitness stock opened at $81.21 on Tuesday. The company has a market cap of $6.92 billion, a PE ratio of 46.67, a P/E/G ratio of 2.72 and a beta of 1.49. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $82.82. The company has a fifty day moving average price of $76.51 and a two-hundred day moving average price of $68.22.

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

Insider Buying and Selling at Planet Fitness

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

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.