Charles Schwab Investment Management Inc. Trims Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Charles Schwab Investment Management Inc. lowered its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 934,827 shares of the company’s stock after selling 19,277 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Planet Fitness were worth $75,927,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares 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 acquiring an additional 316 shares during the period. LRI Investments LLC increased its holdings 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. V Square Quantitative Management LLC raised its position in Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares in the last quarter. Quarry LP lifted its holdings in shares of Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares during the period. Finally, Dnca Finance bought a new position in shares of Planet Fitness during the 2nd quarter worth $82,000. Institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PLNT. Royal Bank of Canada lifted their price objective on Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a research report on Thursday, September 5th. Macquarie reissued a “neutral” rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Stifel Nicolaus upped their target price on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price target (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Five 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.81.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the firm’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 completion of the transaction, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.94% of the company’s stock.

Planet Fitness Trading Down 0.5 %

NYSE:PLNT opened at $101.02 on Thursday. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.81. The company has a market cap of $8.55 billion, a PE ratio of 54.31, a P/E/G ratio of 3.36 and a beta of 1.49. The company’s 50 day moving average is $85.75 and its two-hundred day moving average is $78.09.

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

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.