Planet Fitness, Inc. (NYSE:PLNT) Stake Lessened by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 12.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,180 shares of the company’s stock after selling 320 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Planet Fitness were worth $177,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Quest Partners LLC increased its holdings in shares of Planet Fitness by 126.0% in the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock valued at $772,000 after acquiring an additional 5,298 shares during the last quarter. Premier Fund Managers Ltd acquired a new position in Planet Fitness in the third quarter worth $775,000. Banco Santander S.A. bought a new stake in Planet Fitness during the third quarter valued at $637,000. Fifth Third Bancorp raised its holdings in shares of Planet Fitness by 60.2% during the second quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock worth $14,122,000 after purchasing an additional 72,131 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after buying an additional 829,509 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PLNT shares. DA Davidson increased their price objective on shares of Planet Fitness from $70.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday. Bank of America increased their price target on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Macquarie restated a “neutral” rating and set a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Robert W. Baird increased their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus price target of $93.38.

Insiders Place Their Bets

In related news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.94% of the stock is owned by company insiders.

Planet Fitness Price Performance

NYSE PLNT opened at $99.55 on Monday. The firm has a market capitalization of $8.42 billion, a PE ratio of 53.52, a P/E/G ratio of 3.31 and a beta of 1.49. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $102.81. The company’s 50 day simple moving average is $86.75 and its 200 day simple moving average is $78.73.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

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.