Jennifer Simmons Sells 11,453 Shares of Planet Fitness, Inc. (NYSE:PLNT) Stock

Planet Fitness, Inc. (NYSE:PLNT) insider Jennifer Simmons sold 11,453 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Planet Fitness Price Performance

Planet Fitness stock opened at $97.03 on Tuesday. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 52.17, a P/E/G ratio of 3.17 and a beta of 1.49. The firm has a 50-day moving average of $83.58 and a 200-day moving average of $76.50. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $98.59.

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their price target on Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Raymond James raised their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Morgan Stanley boosted their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $87.00 target price (up from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Five 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’s stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $91.81.

Hedge Funds Weigh In On Planet Fitness

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Planet Fitness by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after acquiring an additional 97,823 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Planet Fitness by 24.9% in the 1st quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock valued at $14,335,000 after purchasing an additional 45,623 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Planet Fitness by 4.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 92,400 shares of the company’s stock valued at $5,787,000 after purchasing an additional 3,860 shares during the period. Fifth Third Bancorp lifted its stake in Planet Fitness by 60.2% in the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock valued at $14,122,000 after purchasing an additional 72,131 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Planet Fitness by 169.8% during the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after purchasing an additional 829,509 shares during the period. 95.53% of the stock is owned by institutional investors.

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.