Jennifer Simmons Sells 11,453 Shares of Planet Fitness, Inc. (NYSE:PLNT) Stock

Planet Fitness, Inc. (NYSE:PLNT) insider Jennifer Simmons sold 11,453 shares of the business’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 value of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Planet Fitness Stock Up 0.9 %

Shares of Planet Fitness stock opened at $97.87 on Wednesday. The firm has a market cap of $8.28 billion, a PE ratio of 52.62, a price-to-earnings-growth ratio of 3.17 and a beta of 1.49. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $98.59. The business’s fifty day simple moving average is $83.92 and its 200-day simple moving average is $76.77.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. As a group, equities analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in Planet Fitness by 46.5% during the 1st quarter. SG Americas Securities LLC now owns 7,931 shares of the company’s stock worth $497,000 after purchasing an additional 2,517 shares during the period. Russell Investments Group Ltd. increased its holdings in Planet Fitness by 8.4% during the 1st quarter. Russell Investments Group Ltd. now owns 13,587 shares of the company’s stock worth $851,000 after purchasing an additional 1,057 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in Planet Fitness by 4.4% during the 1st 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 period. Vanguard Group Inc. increased its holdings in Planet Fitness by 1.2% during the 1st 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 period. Finally, Bessemer Group Inc. increased its holdings in Planet Fitness by 24.9% during the 1st 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 period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PLNT shares. Royal Bank of Canada boosted their price objective on Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America lifted their price target on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target on the stock in a research note on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.81.

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.