Planet Fitness Inc. (NYSE:PLNT) CEO Christopher Rondeau sold 20,000 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $19.76, for a total transaction of $395,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Planet Fitness Inc. (NYSE:PLNT) traded up 0.81% during midday trading on Wednesday, hitting $19.98. 300,695 shares of the stock traded hands. Planet Fitness Inc. has a 52 week low of $13.23 and a 52 week high of $23.41. The stock’s market capitalization is $888.89 million. The stock’s 50-day moving average price is $20.78 and its 200-day moving average price is $18.58.
Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $91.50 million for the quarter, compared to analyst estimates of $78.95 million. Planet Fitness had a net margin of 1.74% and a return on equity of 2,244.54%. The company’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. Equities research analysts expect that Planet Fitness Inc. will post $0.47 EPS for the current fiscal year.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, June 29th. Piper Jaffray Cos. upped their price objective on shares of Planet Fitness from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, August 12th. Jefferies Group reiterated a “buy” rating and set a $26.00 price objective (up previously from $25.00) on shares of Planet Fitness in a report on Friday, August 12th. Credit Suisse Group AG reiterated an “outperform” rating and set a $19.00 price objective on shares of Planet Fitness in a report on Monday, June 27th. Finally, Imperial Capital upped their price objective on shares of Planet Fitness from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 15th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $21.95.
A number of large investors have recently made changes to their positions in PLNT. BlackRock Advisors LLC raised its stake in shares of Planet Fitness by 3.2% in the second quarter. BlackRock Advisors LLC now owns 7,732 shares of the company’s stock worth $146,000 after buying an additional 240 shares during the period. American International Group Inc. raised its stake in shares of Planet Fitness by 3.3% in the second quarter. American International Group Inc. now owns 9,045 shares of the company’s stock worth $171,000 after buying an additional 288 shares during the period. Fortaleza Asset Management Inc. raised its stake in shares of Planet Fitness by 61.9% in the second quarter. Fortaleza Asset Management Inc. now owns 9,900 shares of the company’s stock worth $187,000 after buying an additional 3,785 shares during the period. Nationwide Fund Advisors raised its stake in shares of Planet Fitness by 4.6% in the second quarter. Nationwide Fund Advisors now owns 10,261 shares of the company’s stock worth $194,000 after buying an additional 452 shares during the period. Finally, Raymond James & Associates purchased a new stake in shares of Planet Fitness during the second quarter worth about $207,000. 83.52% of the stock is currently owned by institutional investors and hedge funds.
Planet Fitness Company Profile
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise, Corporate-owned stores and Equipment. The Franchise segment includes operations related to its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic.
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