Point72 Asset Management L.P. Lowers Position in Planet Fitness, Inc. (PLNT)
Point72 Asset Management L.P. lessened its stake in Planet Fitness, Inc. (NYSE:PLNT) by 98.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,300 shares of the company’s stock after selling 844,251 shares during the quarter. Point72 Asset Management L.P.’s holdings in Planet Fitness were worth $305,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in Planet Fitness by 164.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock valued at $131,000 after acquiring an additional 3,022 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Planet Fitness during the 2nd quarter valued at $145,000. Ameritas Investment Partners Inc. grew its position in shares of Planet Fitness by 234.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock valued at $173,000 after purchasing an additional 5,189 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Planet Fitness during the 3rd quarter valued at $214,000. Finally, Montag & Caldwell LLC purchased a new position in shares of Planet Fitness during the 3rd quarter valued at $269,000.
In related news, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $26.43, for a total value of $528,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Richard L. Moore sold 1,640 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total transaction of $44,280.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,640 shares of the company’s stock, valued at $44,280. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,114,427 shares of company stock valued at $34,052,622. Insiders own 19.87% of the company’s stock.
Several research analysts recently issued reports on the stock. Jefferies Group reiterated a “buy” rating and issued a $29.00 target price on shares of Planet Fitness in a research report on Thursday, September 14th. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. BidaskClub lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. DA Davidson assumed coverage on shares of Planet Fitness in a research report on Monday, November 20th. They set a “buy” rating for the company. Finally, Imperial Capital upped their price target on shares of Planet Fitness from $28.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $30.50.
Planet Fitness, Inc. (NYSE:PLNT) opened at $34.65 on Friday. The company has a market cap of $3,410.00 and a PE ratio of 51.72. The company has a debt-to-equity ratio of -5.00, a quick ratio of 1.56 and a current ratio of 1.57. Planet Fitness, Inc. has a one year low of $18.32 and a one year high of $34.84.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $97.50 million during the quarter, compared to the consensus estimate of $93.55 million. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. sell-side analysts predict that Planet Fitness, Inc. will post 0.82 EPS for the current year.
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Planet Fitness Profile
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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