Planet Fitness, Inc. (NYSE:PLNT) Insider Sells $1,101,778.60 in Stock

Planet Fitness, Inc. (NYSE:PLNT) insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Planet Fitness Trading Up 0.9 %

Shares of PLNT stock opened at $97.87 on Wednesday. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 52.62, a price-to-earnings-growth ratio of 3.17 and a beta of 1.49. The stock has a 50 day simple moving average of $83.92 and a 200-day simple moving average of $76.77. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $98.59.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share 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 during the quarter, compared to the consensus estimate of $283.79 million. During the same period last year, the business posted $0.59 EPS. Planet Fitness’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Planet Fitness

Several hedge funds have recently bought and sold shares of PLNT. SG Americas Securities LLC increased its position in Planet Fitness by 46.5% during the first quarter. SG Americas Securities LLC now owns 7,931 shares of the company’s stock worth $497,000 after buying an additional 2,517 shares in the last quarter. Russell Investments Group Ltd. increased its position in Planet Fitness by 8.4% during the first quarter. Russell Investments Group Ltd. now owns 13,587 shares of the company’s stock worth $851,000 after buying an additional 1,057 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Planet Fitness by 4.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 92,400 shares of the company’s stock worth $5,787,000 after purchasing an additional 3,860 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Planet Fitness by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after purchasing an additional 97,823 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Planet Fitness by 24.9% during the first quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock worth $14,335,000 after purchasing an additional 45,623 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PLNT. Stifel Nicolaus upped their price objective on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Roth Mkm upped their target price on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Raymond James upped their target price on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Macquarie reissued a “neutral” rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Finally, Bank of America upped their target price on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $91.81.

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.