Algert Global LLC Sells 2,870 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Algert Global LLC lowered its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 9.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 28,964 shares of the company’s stock after selling 2,870 shares during the quarter. Algert Global LLC’s holdings in Planet Fitness were worth $2,352,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLNT. Verdence Capital Advisors LLC grew its position in Planet Fitness by 4.5% during the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock valued at $247,000 after buying an additional 132 shares during the period. LRI Investments LLC boosted its stake in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares during the last quarter. Creative Planning grew its position in shares of Planet Fitness by 2.1% during the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after acquiring an additional 192 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Planet Fitness by 0.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock worth $1,825,000 after purchasing an additional 200 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its holdings 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 worth $40,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

PLNT has been the subject of several research reports. Stifel Nicolaus increased their price objective on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Macquarie reissued a “neutral” rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Morgan Stanley upped their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Roth Mkm lifted their target price on shares of Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada upped their price target on shares of Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Five 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. Based on data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average price target of $91.81.

Planet Fitness Stock Up 0.6 %

Planet Fitness stock opened at $101.56 on Wednesday. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 54.60, a PEG ratio of 3.37 and a beta of 1.49. The business has a 50-day simple moving average of $85.36 and a 200 day simple moving average of $77.83. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $102.20.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 earnings per share. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

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.