Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Planet Fitness, Inc. (NYSE:PLNT) by 33.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 197,813 shares of the company’s stock after selling 101,293 shares during the quarter. Principal Financial Group Inc.’s holdings in Planet Fitness were worth $16,066,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PLNT. V Square Quantitative Management LLC lifted its position in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after acquiring an additional 201 shares in the last quarter. Quarry LP raised its stake in Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. GAMMA Investing LLC raised its stake in Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $154,000 after purchasing an additional 1,516 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Planet Fitness in the 3rd quarter valued at $200,000. Finally, KBC Group NV grew its holdings in shares of Planet Fitness by 14.7% during the third quarter. KBC Group NV now owns 2,503 shares of the company’s stock worth $203,000 after buying an additional 321 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

NYSE PLNT opened at $99.76 on Friday. The firm has a market cap of $8.44 billion, a price-to-earnings ratio of 53.63, a PEG ratio of 3.33 and a beta of 1.53. The firm has a 50 day simple moving average of $94.13 and a 200-day simple moving average of $83.55. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.90.

Planet Fitness (NYSE:PLNT) last announced 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 business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same period in the previous year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their target price on shares of Planet Fitness from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average price target of $94.00.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.83% of the company’s stock.

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.