Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 84.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,245 shares of the company’s stock after selling 128,763 shares during the quarter. Bank of Montreal Can’s holdings in Planet Fitness were worth $1,871,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC lifted its position in shares of Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares in the last quarter. Quarry LP increased its holdings in 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 buying an additional 318 shares during the last quarter. Finally, Dnca Finance acquired a new stake in Planet Fitness during the second quarter valued at approximately $82,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $100.40 on Friday. The stock has a market capitalization of $8.49 billion, a P/E ratio of 53.98, a P/E/G ratio of 3.30 and a beta of 1.53. The business has a 50-day moving average of $88.12 and a two-hundred day moving average of $79.60. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $102.81.

Planet Fitness (NYSE:PLNT) last announced 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 negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the prior year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several brokerages recently issued reports on PLNT. JPMorgan Chase & Co. raised their price objective on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Raymond James raised their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price objective on shares of Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Morgan Stanley raised their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, DA Davidson lifted their target price on Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.38.

Planet Fitness 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.