Barclays PLC trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 80.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,009 shares of the company's stock after selling 275,482 shares during the period. Barclays PLC owned about 0.08% of Planet Fitness worth $5,525,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of PLNT. William Blair Investment Management LLC bought a new stake in Planet Fitness during the second quarter worth $166,978,000. Anomaly Capital Management LP acquired a new position in shares of Planet Fitness during the 2nd quarter worth about $106,795,000. Point72 Asset Management L.P. raised its holdings in shares of Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock valued at $96,985,000 after purchasing an additional 829,509 shares during the period. FMR LLC lifted its stake in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company's stock valued at $64,609,000 after purchasing an additional 691,761 shares during the last quarter. Finally, Dorsal Capital Management LP grew its holdings in Planet Fitness by 7.7% during the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company's stock worth $213,940,000 after purchasing an additional 207,193 shares during the period. Institutional investors own 95.53% of the company's stock.
In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm'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 sale, the insider now owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.94% of the stock is owned by corporate insiders.
PLNT has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on Planet Fitness from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, November 8th. BNP Paribas upgraded shares of Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price objective on the stock in a report on Thursday, September 5th. Robert W. Baird raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Bank of America lifted their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Five 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.com, Planet Fitness has an average rating of "Moderate Buy" and an average target price of $94.00.
Check Out Our Latest Research Report on Planet Fitness
Shares of NYSE PLNT opened at $99.26 on Friday. The business has a fifty day moving average price of $91.80 and a two-hundred day moving average price of $82.14. The stock has a market capitalization of $8.40 billion, a PE ratio of 53.37, a P/E/G ratio of 3.33 and a beta of 1.53. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $102.90.
Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $292.20 million during the quarter, compared to analysts' expectations of $283.79 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. Planet Fitness's revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current year.
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.
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