BNP Paribas Financial Markets Sells 33,878 Shares of Planet Fitness, Inc. (NYSE:PLNT)

BNP Paribas Financial Markets decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 78.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,334 shares of the company’s stock after selling 33,878 shares during the period. BNP Paribas Financial Markets’ holdings in Planet Fitness were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLNT. FMR LLC increased its stake in shares of Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after purchasing an additional 691,761 shares during the last quarter. Qsemble Capital Management LP raised its holdings in shares of Planet Fitness by 100.6% during the 3rd quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock valued at $1,703,000 after buying an additional 10,518 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Planet Fitness by 151,050.0% during the 3rd quarter. Larson Financial Group LLC now owns 3,023 shares of the company’s stock valued at $246,000 after purchasing an additional 3,021 shares during the last quarter. Banco Santander S.A. bought a new stake in shares of Planet Fitness in the 3rd quarter valued at about $637,000. Finally, Hilton Capital Management LLC bought a new stake in Planet Fitness during the 3rd quarter valued at $1,688,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Transactions at Planet Fitness

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada raised their target price on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Raymond James lifted 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 note on Friday, November 8th. Bank of America raised their target price on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $93.38.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $102.02 on Thursday. The firm has a market cap of $8.63 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.31 and a beta of 1.53. The firm’s 50 day simple moving average is $89.61 and its 200-day simple moving average is $80.70. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.88.

Planet Fitness (NYSE:PLNT) last announced 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. 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 analyst estimates of $283.79 million. During the same quarter last year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts predict 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.