Bamco Inc. NY Reduces Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Bamco Inc. NY decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 5.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,250,000 shares of the company's stock after selling 75,000 shares during the quarter. Bamco Inc. NY owned 1.47% of Planet Fitness worth $101,525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLNT. GAMMA Investing LLC grew its position in Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $28,000 after acquiring an additional 316 shares during the last quarter. LRI Investments LLC increased its stake in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company's stock worth $30,000 after buying an additional 153 shares during the period. V Square Quantitative Management LLC boosted its position in 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 buying an additional 201 shares during the period. Quarry LP boosted its position in Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company's stock valued at $37,000 after buying an additional 318 shares during the period. Finally, Dnca Finance purchased a new position in shares of Planet Fitness during the second quarter worth approximately $82,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Stock Up 0.3 %

Shares of Planet Fitness stock traded up $0.30 during midday trading on Monday, hitting $99.85. The company had a trading volume of 559,787 shares, compared to its average volume of 1,517,277. The company has a fifty day simple moving average of $86.75 and a 200 day simple moving average of $78.81. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 53.52, a PEG ratio of 3.31 and a beta of 1.49. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $102.81.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $292.20 million during the quarter, compared to analysts' expectations of $283.79 million. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm's revenue was up 5.3% compared to the same quarter last year. As a group, analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Roth Mkm increased their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Bank of America raised their price target on Planet Fitness from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Stifel Nicolaus upped their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. BNP Paribas raised shares of Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 target price on the stock in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.38.

Insider Activity at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the firm's 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 sale, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.94% of the stock is currently owned by insiders.

Planet Fitness Company 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.