Twin Lakes Capital Management LLC Reduces Stake in Planet Fitness, Inc. (NYSE:PLNT)

Twin Lakes Capital Management LLC trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 9,887 shares of the company’s stock after selling 224 shares during the quarter. Twin Lakes Capital Management LLC’s holdings in Planet Fitness were worth $803,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Quest Partners LLC increased its stake in shares of Planet Fitness by 126.0% during the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after purchasing an additional 5,298 shares in the last quarter. Qsemble Capital Management LP increased its position in Planet Fitness by 100.6% during the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock worth $1,703,000 after buying an additional 10,518 shares in the last quarter. Premier Fund Managers Ltd acquired a new position in shares of Planet Fitness in the third quarter worth $775,000. Banco Santander S.A. purchased a new stake in shares of Planet Fitness in the third quarter valued at $637,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Planet Fitness during the third quarter valued at $1,990,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. DA Davidson upped their target price on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Macquarie reissued a “neutral” rating and set a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Royal Bank of Canada lifted their target price on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America boosted their price target on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, BNP Paribas upgraded 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. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.38.

Planet Fitness Stock Performance

NYSE PLNT opened at $98.69 on Tuesday. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.81. The company’s 50 day moving average price is $88.86 and its 200 day moving average price is $80.30. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 3.31 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same quarter last year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Insider Activity

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.94% of the company’s stock.

Planet Fitness 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.