Avory & Company LLC Sells 6,450 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Avory & Company LLC lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 12.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,202 shares of the company’s stock after selling 6,450 shares during the period. Planet Fitness accounts for approximately 2.6% of Avory & Company LLC’s holdings, making the stock its 11th biggest position. Avory & Company LLC owned 0.06% of Planet Fitness worth $4,667,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PLNT. Tidal Investments LLC lifted its stake in shares of Planet Fitness by 132.5% in the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after purchasing an additional 16,503 shares during the period. State Street Corp lifted its position in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after purchasing an additional 37,236 shares during the last quarter. Nkcfo LLC bought a new stake in shares of Planet Fitness in the fourth quarter valued at about $1,088,000. Y Intercept Hong Kong Ltd purchased a new position in Planet Fitness in the third quarter valued at about $604,000. Finally, AMJ Financial Wealth Management purchased a new stake in shares of Planet Fitness during the fourth quarter worth about $495,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $96.53 on Thursday. The stock has a market cap of $8.17 billion, a PE ratio of 51.90, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The business’s fifty day moving average is $101.89 and its 200-day moving average is $92.71. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.62 by $0.08. The business had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. Equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on PLNT shares. Raymond James boosted their price target on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. DA Davidson reiterated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a research report on Monday, February 24th. Robert W. Baird increased their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

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.