First Horizon Advisors Inc. Sells 508 Shares of Planet Fitness, Inc. (NYSE:PLNT)

First Horizon Advisors Inc. reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 53.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 450 shares of the company’s stock after selling 508 shares during the quarter. First Horizon Advisors Inc.’s holdings in Planet Fitness were worth $37,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PLNT. GAMMA Investing LLC boosted its position in Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after buying an additional 316 shares during the period. LRI Investments LLC boosted its holdings in shares of Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the period. Quarry LP grew its stake in shares of Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the period. Finally, Dnca Finance bought a new position in Planet Fitness during the 2nd quarter valued at approximately $82,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $100.95 on Tuesday. The business has a fifty day moving average price of $85.36 and a 200-day moving average price of $77.83. The company has a market capitalization of $8.54 billion, a PE ratio of 54.27, a PEG ratio of 3.37 and a beta of 1.49. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.20.

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 analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus boosted their target price on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a report on Thursday, September 5th. Bank of America lifted their target price 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. Macquarie reissued a “neutral” rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Finally, Raymond James lifted their price objective 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. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.81.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction 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 sale, the insider now directly 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 SEC, which is available at the SEC website. 0.83% of the stock is owned by company insiders.

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.