Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,625 shares of the company’s stock after selling 7,569 shares during the period. Rhumbline Advisers owned 0.29% of Planet Fitness worth $12,621,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in Planet Fitness by 1,356.5% in the 3rd quarter. UBS Group AG now owns 107,492 shares of the company’s stock worth $5,286,000 after purchasing an additional 100,112 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Planet Fitness by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 851,951 shares of the company’s stock valued at $41,899,000 after buying an additional 29,512 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Planet Fitness in the 3rd quarter valued at $24,443,000. Blueshift Asset Management LLC increased its stake in Planet Fitness by 23.8% in the third quarter. Blueshift Asset Management LLC now owns 9,916 shares of the company’s stock valued at $488,000 after acquiring an additional 1,906 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Planet Fitness by 32.6% during the third quarter. Janney Montgomery Scott LLC now owns 16,016 shares of the company’s stock valued at $788,000 after purchasing an additional 3,934 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets
PLNT has been the topic of a number of analyst reports. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Piper Sandler boosted their price target on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Raymond James upped their price objective on shares of Planet Fitness from $66.00 to $73.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, November 8th. Stifel Nicolaus reduced their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley dropped their price target on Planet Fitness from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.69.

Read Our Latest Analysis on Planet Fitness
Planet Fitness Trading Up 2.1 %
Shares of Planet Fitness stock opened at $63.71 on Friday. The business has a 50-day moving average price of $70.73 and a two-hundred day moving average price of $62.68. The company has a market cap of $5.62 billion, a P/E ratio of 39.57, a PEG ratio of 1.31 and a beta of 1.44. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $84.48.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 102.85% and a net margin of 12.80%. The business had revenue of $285.10 million for the quarter, compared to analysts’ expectations of $282.35 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. Equities research analysts forecast that Planet Fitness, Inc. will post 2.21 EPS for the current fiscal year.
Insider Buying and Selling
In other Planet Fitness news, CEO Craig R. Benson bought 10,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were acquired at an average cost of $68.15 per share, for a total transaction of $681,500.00. Following the purchase, the chief executive officer now directly owns 35,000 shares of the company’s stock, valued at $2,385,250. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Craig R. Benson acquired 10,000 shares of Planet Fitness stock in a transaction dated Monday, December 11th. The shares were purchased at an average cost of $68.15 per share, for a total transaction of $681,500.00. Following the transaction, the chief executive officer now owns 35,000 shares of the company’s stock, valued at $2,385,250. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher Rondeau sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $66.55, for a total transaction of $66,550,000.00. The disclosure for this sale can be found here. 5.94% of the stock is currently owned by insiders.
About Planet Fitness
(Free Report)
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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
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