Sei Investments Co. Lowers Stake in Planet Fitness, Inc. (NYSE:PLNT)

Sei Investments Co. lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 1.1% during the second quarter, Holdings Channel.com reports. The firm owned 134,420 shares of the company’s stock after selling 1,457 shares during the quarter. Sei Investments Co.’s holdings in Planet Fitness were worth $9,892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new stake in shares of Planet Fitness in the 1st quarter worth approximately $27,000. GAMMA Investing LLC boosted its holdings in Planet Fitness by 478.8% in the second 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 increased its holdings in shares of Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares in the last quarter. Dnca Finance purchased a new position in shares of Planet Fitness in the 2nd quarter worth about $82,000. Finally, Headlands Technologies LLC bought a new position in Planet Fitness in the 1st quarter worth about $148,000. Institutional investors own 95.53% of the company’s stock.

Insider Activity

In related news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the sale, 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 available at this hyperlink. Insiders own 5.94% of the company’s stock.

Planet Fitness Trading Down 2.7 %

PLNT opened at $80.48 on Friday. The firm’s 50 day simple moving average is $79.38 and its two-hundred day simple moving average is $70.56. The company has a market capitalization of $6.85 billion, a PE ratio of 46.25, a PEG ratio of 2.79 and a beta of 1.49. Planet Fitness, Inc. has a 1-year low of $45.94 and a 1-year high of $85.08.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, topping 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 period last year, the firm earned $0.65 EPS. Planet Fitness’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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLNT. Robert W. Baird reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Planet Fitness in a report on Monday, August 26th. JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and increased their target price for the company from $66.00 to $92.00 in a research note on Monday, June 24th. Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a report on Friday. They set a “hold” rating and a $71.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.93.

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.