Ensign Peak Advisors Inc Reduces Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Ensign Peak Advisors Inc lessened its stake in Planet Fitness, Inc. (NYSE:PLNT) by 18.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,840 shares of the company’s stock after selling 8,016 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Planet Fitness were worth $2,637,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of Planet Fitness in the first quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of Planet Fitness by 478.8% in 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 in the last quarter. LRI Investments LLC boosted its stake in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after buying an additional 153 shares during the last quarter. Dnca Finance acquired a new stake in shares of Planet Fitness during the second quarter worth approximately $82,000. Finally, Headlands Technologies LLC bought a new stake in shares of Planet Fitness in the first quarter worth $148,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insiders Place Their Bets

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

Planet Fitness Stock Down 2.7 %

PLNT stock opened at $80.48 on Friday. The stock has a market cap of $7.10 billion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 2.74 and a beta of 1.49. The firm’s 50-day simple moving average is $79.38 and its 200 day simple moving average is $70.52. Planet Fitness, Inc. has a fifty-two week low of $45.94 and a fifty-two week high of $85.08.

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

Analysts Set New Price Targets

Several analysts recently issued reports on PLNT shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 price target (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research report on Friday, June 14th. DA Davidson reissued a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Royal Bank of Canada upped their price objective on Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and lifted their target price for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Four equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.93.

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.