Crossmark Global Holdings Inc. Trims Stake in Planet Fitness, Inc. (NYSE:PLNT)

Crossmark Global Holdings Inc. cut its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,748 shares of the company’s stock after selling 657 shares during the period. Crossmark Global Holdings Inc.’s holdings in Planet Fitness were worth $423,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new position in shares of Planet Fitness during the first quarter valued at $27,000. GAMMA Investing LLC increased its position in Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares during the period. LRI Investments LLC raised its holdings in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock worth $73,000 after purchasing an additional 197 shares during the period. Finally, Dnca Finance bought a new position in shares of Planet Fitness during the second quarter valued at approximately $82,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

Shares of PLNT opened at $81.21 on Tuesday. The company’s fifty day moving average price is $76.51 and its 200-day moving average price is $68.22. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $82.82. The firm has a market capitalization of $6.92 billion, a PE ratio of 46.67, a price-to-earnings-growth ratio of 2.72 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $300.94 million for the quarter, compared to the consensus estimate of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, research analysts anticipate that Planet Fitness, Inc. will post 2.44 EPS for the current fiscal year.

Insider Activity at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the transaction, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.94% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on PLNT. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research note on Friday, June 14th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Raymond James increased their price target on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Finally, Roth Mkm raised their price target on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.07.

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.