Makena Capital Management LLC Sells 113,902 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Makena Capital Management LLC trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 55.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 91,085 shares of the company’s stock after selling 113,902 shares during the period. Makena Capital Management LLC’s holdings in Planet Fitness were worth $6,703,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in Planet Fitness by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,214 shares of the company’s stock worth $1,184,000 after purchasing an additional 198 shares during the period. Corient Private Wealth LLC boosted its position in shares of Planet Fitness by 9.5% during the 4th quarter. Corient Private Wealth LLC now owns 11,671 shares of the company’s stock worth $852,000 after purchasing an additional 1,017 shares in the last quarter. US Bancorp DE grew its stake in shares of Planet Fitness by 23.7% in the 4th quarter. US Bancorp DE now owns 11,882 shares of the company’s stock valued at $867,000 after buying an additional 2,273 shares during the period. Treasurer of the State of North Carolina increased its position in Planet Fitness by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 37,803 shares of the company’s stock valued at $2,760,000 after buying an additional 370 shares in the last quarter. Finally, Martin Currie Ltd. acquired a new position in Planet Fitness during the 4th quarter worth approximately $332,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Trading Up 0.6 %

Planet Fitness stock opened at $82.73 on Friday. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 2.74 and a beta of 1.49. The stock has a fifty day simple moving average of $79.30 and a two-hundred day simple moving average of $70.40. Planet Fitness, Inc. has a 12 month low of $44.95 and a 12 month high of $85.08.

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

Insider Buying and Selling

In other news, CAO Brian O’donnell sold 6,424 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the transaction, the chief accounting officer now owns 6,778 shares in the company, valued at $524,549.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America raised their price objective on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Robert W. Baird reissued an “outperform” rating and issued a $92.00 price objective on shares of Planet Fitness in a research note on Monday, August 26th. BMO Capital Markets restated an “outperform” rating and issued a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Finally, Roth Mkm upped their price target on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.93.

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.