BNP Paribas Financial Markets Sells 33,878 Shares of Planet Fitness, Inc. (NYSE:PLNT)

BNP Paribas Financial Markets reduced its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 78.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,334 shares of the company's stock after selling 33,878 shares during the quarter. BNP Paribas Financial Markets' holdings in Planet Fitness were worth $758,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company's stock valued at $64,609,000 after purchasing an additional 691,761 shares in the last quarter. Qsemble Capital Management LP lifted its stake in Planet Fitness by 100.6% in the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company's stock worth $1,703,000 after purchasing an additional 10,518 shares during the last quarter. Larson Financial Group LLC boosted its position in Planet Fitness by 151,050.0% during the third quarter. Larson Financial Group LLC now owns 3,023 shares of the company's stock valued at $246,000 after buying an additional 3,021 shares during the period. Banco Santander S.A. bought a new position in shares of Planet Fitness during the third quarter valued at about $637,000. Finally, Hilton Capital Management LLC purchased a new position in shares of Planet Fitness in the third quarter worth about $1,688,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Performance

Shares of NYSE PLNT traded down $1.76 during mid-day trading on Thursday, hitting $100.25. 1,091,123 shares of the stock traded hands, compared to its average volume of 1,494,863. The stock has a fifty day moving average price of $89.61 and a 200-day moving average price of $80.70. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 3.31 and a beta of 1.53. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $102.88.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. As a group, sell-side analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PLNT shares. Raymond James raised their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a "strong-buy" rating in a research report on Friday, November 8th. Bank of America lifted their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. Robert W. Baird upped their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company an "outperform" rating in a report on Friday, November 8th. BNP Paribas raised shares of Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price target on the stock in a report on Thursday, September 5th. Finally, Macquarie reaffirmed a "neutral" rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Five research 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.38.

Insider Transactions at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is owned by insiders.

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.