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.
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.
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.
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