Planet Fitness, Inc. $PLNT Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,576 shares of the company’s stock after selling 728 shares during the period. Park Avenue Securities LLC’s holdings in Planet Fitness were worth $499,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of Planet Fitness by 358.0% in the first quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock valued at $213,618,000 after purchasing an additional 1,728,407 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Planet Fitness by 62.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock valued at $317,810,000 after purchasing an additional 1,268,262 shares during the period. Ninety One UK Ltd boosted its stake in shares of Planet Fitness by 61.1% in the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock valued at $205,265,000 after buying an additional 806,023 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Planet Fitness in the first quarter valued at approximately $54,384,000. Finally, Junto Capital Management LP purchased a new stake in shares of Planet Fitness in the first quarter valued at approximately $52,580,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Up 1.4%

NYSE:PLNT opened at $105.09 on Tuesday. The business’s 50 day moving average is $105.64 and its two-hundred day moving average is $102.85. The company has a market cap of $8.85 billion, a PE ratio of 46.70, a P/E/G ratio of 2.31 and a beta of 1.37. Planet Fitness, Inc. has a 52 week low of $77.77 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The business had revenue of $340.88 million for the quarter, compared to analysts’ expectations of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analysts Set New Price Targets

PLNT has been the topic of a number of analyst reports. Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Canaccord Genuity Group restated a “buy” rating and issued a $126.00 price target on shares of Planet Fitness in a research note on Monday, September 15th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $111.54.

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.