Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. cut its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 69.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,689 shares of the company’s stock after selling 6,229 shares during the period. Montag A & Associates Inc.’s holdings in Planet Fitness were worth $198,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in shares of Planet Fitness in the first quarter worth about $27,000. GAMMA Investing LLC lifted its stake in Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC boosted its position 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 acquiring an additional 153 shares during the period. First Horizon Advisors Inc. grew its stake in Planet Fitness by 24.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after acquiring an additional 197 shares in the last quarter. Finally, Dnca Finance purchased a new position in Planet Fitness during the 2nd quarter valued at about $82,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PLNT shares. Stifel Nicolaus downgraded shares of Planet Fitness from a “buy” rating to a “hold” rating and lowered their price objective for the company from $80.00 to $70.00 in a research report on Friday, May 10th. DA Davidson restated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a report on Friday, June 14th. Piper Sandler lifted their price objective on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Royal Bank of Canada upped their target price on Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Roth Mkm boosted their price target on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $80.07.

Insider Transactions at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at approximately $524,549.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.94% of the company’s stock.

Planet Fitness Trading Up 0.2 %

Shares of PLNT opened at $81.21 on Tuesday. The stock has a market cap of $6.92 billion, a PE ratio of 46.67, a PEG ratio of 2.72 and a beta of 1.49. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $82.82. The stock has a 50 day simple moving average of $76.51 and a 200-day simple moving average of $68.22.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 2.44 EPS for the current fiscal year.

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.