Planet Fitness Inc (PLNT) Position Cut by Point72 Asset Management L.P.

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Point72 Asset Management L.P. reduced its holdings in shares of Planet Fitness Inc (NYSE:PLNT) by 54.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,577 shares of the company’s stock after selling 290,308 shares during the period. Point72 Asset Management L.P.’s holdings in Planet Fitness were worth $10,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PLNT. BlackRock Inc. grew its stake in Planet Fitness by 10.7% during the 2nd quarter. BlackRock Inc. now owns 6,027,451 shares of the company’s stock valued at $264,845,000 after purchasing an additional 581,619 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Planet Fitness by 3.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 2,870,220 shares of the company’s stock valued at $108,408,000 after purchasing an additional 99,339 shares during the last quarter. Jennison Associates LLC grew its stake in Planet Fitness by 0.7% during the 2nd quarter. Jennison Associates LLC now owns 2,541,081 shares of the company’s stock valued at $111,655,000 after purchasing an additional 18,914 shares during the last quarter. FMR LLC grew its stake in Planet Fitness by 407.9% during the 2nd quarter. FMR LLC now owns 2,527,143 shares of the company’s stock valued at $111,043,000 after purchasing an additional 2,029,530 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Planet Fitness by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,719,972 shares of the company’s stock valued at $64,963,000 after purchasing an additional 120,286 shares during the last quarter. 92.40% of the stock is currently owned by institutional investors.

PLNT has been the topic of several research analyst reports. Imperial Capital boosted their price target on Planet Fitness from $40.00 to $45.00 and gave the company an “inline” rating in a research note on Friday, August 10th. JPMorgan Chase & Co. downgraded Planet Fitness from an “overweight” rating to a “neutral” rating and set a $22.00 price target on the stock. in a research note on Monday, August 13th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, July 11th. Robert W. Baird reiterated a “buy” rating and set a $56.00 price target (up previously from $50.00) on shares of Planet Fitness in a research note on Friday, August 10th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $51.00 price target on shares of Planet Fitness in a research note on Wednesday, July 11th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.58.

In other news, CEO Christopher Rondeau sold 26,377 shares of the company’s stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $45.32, for a total value of $1,195,405.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dorvin D. Lively sold 31,893 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $50.82, for a total value of $1,620,802.26. Following the completion of the sale, the chief financial officer now owns 31,893 shares in the company, valued at approximately $1,620,802.26. The disclosure for this sale can be found here. Insiders sold 565,049 shares of company stock worth $28,022,162 in the last 90 days. Company insiders own 19.87% of the company’s stock.

Shares of PLNT opened at $51.64 on Friday. Planet Fitness Inc has a 52 week low of $25.55 and a 52 week high of $53.41. The company has a current ratio of 2.08, a quick ratio of 2.05 and a debt-to-equity ratio of -7.61. The stock has a market capitalization of $4.98 billion, a PE ratio of 48.67, a P/E/G ratio of 2.32 and a beta of 0.55.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, August 9th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Planet Fitness had a negative return on equity of 82.89% and a net margin of 11.68%. The firm had revenue of $140.55 million for the quarter, compared to the consensus estimate of $130.99 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s revenue was up 31.0% compared to the same quarter last year. research analysts predict that Planet Fitness Inc will post 1.13 EPS for the current fiscal year.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It 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, the Dominican Republic, and Panama.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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