Planet Fitness, Inc. (NYSE:PLNT) CAO Sells $497,153.36 in Stock

Planet Fitness, Inc. (NYSE:PLNT) CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the sale, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at $524,549.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $79.04 on Friday. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 45.43, a price-to-earnings-growth ratio of 2.57 and a beta of 1.49. The business’s 50 day simple moving average is $73.22 and its 200-day simple moving average is $66.95. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $79.53.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. Planet Fitness’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.

Institutional Investors Weigh In On Planet Fitness

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP raised its position in Planet Fitness by 247.6% during the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Planet Fitness in the first quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC raised its position in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLNT has been the subject of several analyst reports. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $100.00 in a research note on Monday, June 10th. Stifel Nicolaus cut shares of Planet Fitness from a “buy” rating to a “hold” rating and reduced their target price for the stock from $80.00 to $70.00 in a research note on Friday, May 10th. Royal Bank of Canada boosted their price target on shares of Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a research note on Wednesday. Robert W. Baird increased their price target on shares of Planet Fitness from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Four 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $79.87.

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.