Planet Fitness, Inc. (NYSE:PLNT) Stake Lowered by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,500 shares of the company’s stock after selling 210 shares during the period. Daiwa Securities Group Inc.’s holdings in Planet Fitness were worth $184,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in Planet Fitness by 3.8% during the 2nd quarter. Arizona State Retirement System now owns 24,383 shares of the company’s stock valued at $1,794,000 after purchasing an additional 903 shares during the period. Victory Capital Management Inc. boosted its position in shares of Planet Fitness by 3.3% during the second quarter. Victory Capital Management Inc. now owns 18,202 shares of the company’s stock worth $1,339,000 after buying an additional 584 shares during the period. Simon Quick Advisors LLC bought a new position in Planet Fitness in the 2nd quarter worth approximately $300,000. Avory & Company LLC increased its position in Planet Fitness by 1.2% in the 2nd quarter. Avory & Company LLC now owns 67,665 shares of the company’s stock valued at $4,979,000 after acquiring an additional 800 shares during the period. Finally, Rhumbline Advisers raised its stake in Planet Fitness by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 243,523 shares of the company’s stock valued at $17,921,000 after acquiring an additional 4,768 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

PLNT has been the topic of a number of research analyst reports. Roth Mkm raised their price target on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley reissued an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Bank of America raised their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.87.

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were 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 of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.94% of the company’s stock.

Planet Fitness Stock Down 1.4 %

Shares of NYSE PLNT opened at $81.62 on Wednesday. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $83.98. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 46.91, a P/E/G ratio of 2.75 and a beta of 1.49. The business has a fifty day simple moving average of $78.05 and a 200-day simple moving average of $69.42.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The company 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 business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.44 EPS for the current fiscal year.

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.