Barclays PLC Cuts Stake in Planet Fitness, Inc. (NYSE:PLNT)

Barclays PLC reduced its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 80.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,009 shares of the company's stock after selling 275,482 shares during the period. Barclays PLC owned approximately 0.08% of Planet Fitness worth $5,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new position in Planet Fitness in the third quarter valued at approximately $604,000. State Street Corp boosted its holdings in shares of Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company's stock valued at $205,061,000 after purchasing an additional 37,236 shares in the last quarter. Quest Partners LLC increased its stake in shares of Planet Fitness by 126.0% in the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company's stock valued at $772,000 after purchasing an additional 5,298 shares during the last quarter. Qsemble Capital Management LP lifted its position in shares of Planet Fitness by 100.6% during the 3rd quarter. Qsemble Capital Management LP now owns 20,972 shares of the company's stock worth $1,703,000 after buying an additional 10,518 shares during the last quarter. Finally, Premier Fund Managers Ltd bought a new position in Planet Fitness in the third quarter valued at about $775,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of the 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 owns 19,110 shares of the company's stock, valued at approximately $1,838,382. This represents 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.

Analysts Set New Price Targets

PLNT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on Planet Fitness in a report on Friday, September 27th. They set a "hold" rating and a $71.00 price objective on the stock. Robert W. Baird boosted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Macquarie reaffirmed a "neutral" rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Stifel Nicolaus lifted their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Five 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 stock. According to data from MarketBeat.com, Planet Fitness has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Planet Fitness Stock Performance

PLNT traded up $0.08 during mid-day trading on Friday, reaching $99.26. 2,246,828 shares of the stock were exchanged, compared to its average volume of 1,487,558. The company has a 50 day moving average price of $91.80 and a two-hundred day moving average price of $82.14. The stock has a market capitalization of $8.40 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 3.33 and a beta of 1.53. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $102.90.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $283.79 million. During the same period in the prior year, the company posted $0.59 earnings per share. Planet Fitness's quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that Planet Fitness, Inc. will post 2.5 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.