American Trust Trims Holdings in Planet Fitness, Inc. (NYSE:PLNT)

American Trust decreased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 21.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,689 shares of the company’s stock after selling 756 shares during the period. American Trust’s holdings in Planet Fitness were worth $218,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PLNT. LRI Investments LLC raised its position in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after buying an additional 153 shares in the last quarter. Quarry LP boosted its position in shares of Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 318 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after acquiring an additional 201 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Planet Fitness by 396.9% in the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Planet Fitness in the second quarter worth approximately $200,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Up 0.1 %

Shares of PLNT opened at $100.34 on Friday. The firm has a fifty day simple moving average of $90.30 and a two-hundred day simple moving average of $81.23. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.88. The stock has a market capitalization of $8.49 billion, a P/E ratio of 53.95, a PEG ratio of 3.39 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last posted 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. The company had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Sell-side analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PLNT. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price target for the company. Raymond James increased their target price on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Macquarie reaffirmed a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. DA Davidson increased their price objective on Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, Morgan Stanley boosted their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and a consensus target price of $93.38.

Insider Activity

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness 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 sale, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.94% 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.