Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Avory & Company LLC

Avory & Company LLC cut its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 12.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,202 shares of the company's stock after selling 6,450 shares during the quarter. Planet Fitness makes up approximately 2.6% of Avory & Company LLC's portfolio, making the stock its 11th largest holding. Avory & Company LLC owned approximately 0.06% of Planet Fitness worth $4,667,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in Planet Fitness by 3.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,825 shares of the company's stock worth $797,000 after purchasing an additional 310 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Planet Fitness during the third quarter worth about $13,592,000. Verdence Capital Advisors LLC grew its stake in Planet Fitness by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company's stock valued at $247,000 after acquiring an additional 132 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Planet Fitness by 8.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,256 shares of the company's stock valued at $508,000 after acquiring an additional 508 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in Planet Fitness in the 3rd quarter worth approximately $5,206,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

PLNT has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Guggenheim restated a "buy" rating and issued a $105.00 target price on shares of Planet Fitness in a report on Thursday, February 27th. DA Davidson reiterated a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Macquarie lowered their price target on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Roth Mkm restated a "buy" rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.00.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded down $3.60 during trading on Monday, reaching $93.71. The stock had a trading volume of 2,148,491 shares, compared to its average volume of 1,688,506. The company has a market cap of $7.93 billion, a P/E ratio of 50.38, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The business's 50-day moving average price is $101.63 and its 200-day moving average price is $93.06.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. The company had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 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 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

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.