Commonwealth Equity Services LLC Cuts Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Commonwealth Equity Services LLC decreased its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,439 shares of the company’s stock after selling 130 shares during the period. Commonwealth Equity Services LLC’s holdings in Planet Fitness were worth $348,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC purchased a new stake in Planet Fitness in the second quarter worth approximately $36,000. Berman Capital Advisors LLC raised its position in shares of Planet Fitness by 291.9% during the 3rd quarter. Berman Capital Advisors LLC now owns 482 shares of the company’s stock valued at $37,000 after purchasing an additional 359 shares during the period. Strategic Blueprint LLC bought a new stake in shares of Planet Fitness during the 2nd quarter valued at $40,000. Liberty Wealth Management LLC increased its holdings in Planet Fitness by 13,070.0% in the 2nd quarter. Liberty Wealth Management LLC now owns 5,268 shares of the company’s stock valued at $70,000 after acquiring an additional 5,228 shares during the last quarter. Finally, Johnson Investment Counsel Inc. bought a new stake in Planet Fitness in the 2nd quarter valued at $204,000. Institutional investors own 96.38% of the company’s stock.

In related news, CEO Christopher Rondeau sold 150,000 shares of the business’s stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $96.07, for a total value of $14,410,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 6.41% of the stock is currently owned by insiders.

A number of equities analysts recently commented on PLNT shares. Cowen raised shares of Planet Fitness to a “hold” rating and lifted their price target for the stock from $100.00 to $110.00 in a research note on Wednesday. DA Davidson boosted their price objective on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Planet Fitness from $88.00 to $90.00 in a report on Friday. TheStreet upgraded shares of Planet Fitness from a “c” rating to a “b-” rating in a research note on Thursday, November 4th. Finally, Roth Capital boosted their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, November 8th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness has an average rating of “Buy” and a consensus target price of $100.17.

NYSE PLNT opened at $86.78 on Friday. Planet Fitness, Inc. has a one year low of $67.89 and a one year high of $99.60. The firm has a 50 day simple moving average of $88.66 and a 200-day simple moving average of $81.32. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 154.96, a PEG ratio of 2.79 and a beta of 1.21.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 4th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.08. Planet Fitness had a net margin of 8.51% and a negative return on equity of 9.30%. The company had revenue of $154.30 million for the quarter, compared to analysts’ expectations of $134.79 million. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 46.4% on a year-over-year basis. As a group, analysts forecast that Planet Fitness, Inc. will post 0.81 EPS for the current fiscal year.

About Planet Fitness

Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.

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

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