Park Avenue Securities LLC Sells 2,418 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Park Avenue Securities LLC lessened its stake in shares of Planet Fitness, Inc. (NYSE:PLNTFree Report) by 34.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,646 shares of the company’s stock after selling 2,418 shares during the quarter. Park Avenue Securities LLC’s holdings in Planet Fitness were worth $459,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Quarry LP grew its position in shares of Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after buying an additional 201 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after purchasing an additional 1,516 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Planet Fitness during the second quarter worth approximately $200,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of Planet Fitness during the third quarter valued at about $200,000. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Piper Sandler boosted their price objective on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. DA Davidson reiterated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Morgan Stanley boosted their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.69.

Get Our Latest Stock Analysis on Planet Fitness

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.94% of the stock is owned by insiders.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $105.53 on Friday. The company has a fifty day moving average of $100.84 and a 200 day moving average of $87.46. The company has a market capitalization of $8.93 billion, a P/E ratio of 56.74, a P/E/G ratio of 2.67 and a beta of 1.52. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $108.41.

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

Planet Fitness Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNTFree Report).

Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.