Bank of Montreal Can Sells 128,763 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Bank of Montreal Can lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 84.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,245 shares of the company's stock after selling 128,763 shares during the quarter. Bank of Montreal Can's holdings in Planet Fitness were worth $1,871,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 316 shares during the period. 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 valued at $30,000 after buying an additional 153 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Planet Fitness by 69.8% in the third 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 grew its position in Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company's stock worth $37,000 after buying an additional 318 shares in the last quarter. Finally, Dnca Finance bought a new position in Planet Fitness during the 2nd quarter worth $82,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Trading Down 0.5 %

NYSE:PLNT traded down $0.50 during mid-day trading on Friday, hitting $99.87. 570,175 shares of the company's stock were exchanged, compared to its average volume of 1,504,009. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $102.81. The company has a 50 day simple moving average of $88.12 and a 200-day simple moving average of $79.60. The firm has a market capitalization of $8.45 billion, a P/E ratio of 53.98, a PEG ratio of 3.30 and a beta of 1.53.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The company had revenue of $292.20 million for the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm posted $0.59 earnings per share. As a group, analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Insider Transactions at Planet Fitness

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PLNT shares. Robert W. Baird raised their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a "hold" rating and a $71.00 target price on the stock. Bank of America upped their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Macquarie reissued a "neutral" rating and issued a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Finally, Morgan Stanley upped their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Five investment 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.38.

About Planet Fitness

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.