Diversified Trust Co Lowers Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Diversified Trust Co cut its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 27.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,141 shares of the company’s stock after selling 6,230 shares during the quarter. Diversified Trust Co’s holdings in Planet Fitness were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its holdings in Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 318 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after acquiring an additional 1,516 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Planet Fitness in the 2nd quarter worth about $200,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Planet Fitness during the 3rd quarter worth approximately $200,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Stock Up 2.5 %

Shares of Planet Fitness stock opened at $100.87 on Thursday. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $102.90. The stock has a market capitalization of $8.53 billion, a P/E ratio of 54.23, a PEG ratio of 3.33 and a beta of 1.52. The stock has a 50 day moving average price of $97.30 and a two-hundred day moving average price of $85.17.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 business earned $0.59 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLNT. DA Davidson raised their price target on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Royal Bank of Canada lifted their price target on shares of Planet Fitness from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Macquarie reissued a “neutral” rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.13.

Insider Activity

In other news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were 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 owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.94% of the stock is owned by company insiders.

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.