Bamco Inc. NY Lowers Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Bamco Inc. NY reduced its position in Planet Fitness, Inc. (NYSE:PLNT) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,250,000 shares of the company’s stock after selling 75,000 shares during the quarter. Bamco Inc. NY owned about 1.47% of Planet Fitness worth $101,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLNT. Verdence Capital Advisors LLC raised its holdings in shares of Planet Fitness by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock worth $247,000 after purchasing an additional 132 shares during the period. LRI Investments LLC increased its position in 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 in the last quarter. Creative Planning raised its holdings in Planet Fitness by 2.1% in the third quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after buying an additional 192 shares during the period. Louisiana State Employees Retirement System lifted its position in Planet Fitness by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after buying an additional 200 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in Planet Fitness by 69.8% during the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after buying an additional 201 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.94% of the stock is owned by company insiders.

Analyst Ratings Changes

PLNT has been the subject of several recent research reports. DA Davidson increased their price target on Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley increased their target price 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. boosted their price target on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a research report on Thursday, September 5th. Finally, Royal Bank of Canada boosted their target price on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Five research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.38.

Planet Fitness Trading Down 1.5 %

Shares of NYSE PLNT opened at $99.55 on Monday. The company has a market capitalization of $8.42 billion, a price-to-earnings ratio of 53.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.49. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.81. The business has a 50 day simple moving average of $86.75 and a 200-day simple moving average of $78.73.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating 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 firm had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

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.