Planet Fitness (PLNT) Trading Down 5.2%

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Planet Fitness Inc (NYSE:PLNT) shares traded down 5.2% during trading on Monday . The company traded as low as $50.47 and last traded at $50.67. 1,382,990 shares were traded during mid-day trading, an increase of 24% from the average session volume of 1,118,865 shares. The stock had previously closed at $53.44.

A number of research analysts have commented on PLNT shares. ValuEngine raised Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 14th. TheStreet raised Planet Fitness from a “c-” rating to a “b” rating in a report on Monday, August 6th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $60.00 target price on shares of Planet Fitness in a report on Sunday, August 12th. Roth Capital set a $55.00 target price on Planet Fitness and gave the stock a “buy” rating in a report on Saturday, August 11th. Finally, Wedbush increased their target price on Planet Fitness from $35.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Planet Fitness presently has an average rating of “Buy” and a consensus target price of $52.64.

The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 60.32, a P/E/G ratio of 2.27 and a beta of 0.75.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $136.66 million for the quarter, compared to analysts’ expectations of $126.10 million. Planet Fitness had a negative return on equity of 95.97% and a net margin of 11.22%. The business’s quarterly revenue was up 40.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. On average, analysts forecast that Planet Fitness Inc will post 1.2 earnings per share for the current fiscal year.

In other news, CFO Dorvin D. Lively sold 105,127 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $51.23, for a total transaction of $5,385,656.21. Following the sale, the chief financial officer now directly owns 41,874 shares in the company, valued at approximately $2,145,205.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Rondeau sold 1,792 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $50.60, for a total value of $90,675.20. The disclosure for this sale can be found here. Insiders have sold a total of 418,012 shares of company stock worth $21,164,158 over the last quarter. Insiders own 16.38% of the company’s stock.

Several institutional investors have recently made changes to their positions in PLNT. FMR LLC raised its position in shares of Planet Fitness by 407.9% during the 2nd quarter. FMR LLC now owns 2,527,143 shares of the company’s stock worth $111,043,000 after purchasing an additional 2,029,530 shares during the period. American Century Companies Inc. raised its position in shares of Planet Fitness by 587.6% during the 3rd quarter. American Century Companies Inc. now owns 1,942,277 shares of the company’s stock worth $104,941,000 after purchasing an additional 1,659,806 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Planet Fitness during the 3rd quarter worth approximately $41,917,000. Capital International Investors acquired a new stake in shares of Planet Fitness during the 3rd quarter worth approximately $35,120,000. Finally, Renaissance Technologies LLC increased its position in Planet Fitness by 183.6% in the 3rd quarter. Renaissance Technologies LLC now owns 916,600 shares of the company’s stock valued at $49,524,000 after acquiring an additional 593,400 shares during the period. Institutional investors and hedge funds own 92.97% of the company’s stock.

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About Planet Fitness (NYSE:PLNT)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

See Also: Depreciation

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