Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,701 shares of the company's stock after selling 13,630 shares during the period. Bridgewater Associates LP owned about 0.21% of Planet Fitness worth $14,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PLNT. Dorsal Capital Management LP raised its holdings in Planet Fitness by 7.7% during the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company's stock valued at $213,940,000 after buying an additional 207,193 shares during the period. William Blair Investment Management LLC bought a new stake in Planet Fitness during the 2nd quarter valued at about $166,978,000. Anomaly Capital Management LP bought a new stake in shares of Planet Fitness during the second quarter valued at approximately $106,795,000. Point72 Asset Management L.P. lifted its position in shares of Planet Fitness by 169.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company's stock worth $96,985,000 after purchasing an additional 829,509 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Planet Fitness by 18.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company's stock valued at $80,910,000 after purchasing an additional 173,536 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Down 0.5 %

NYSE:PLNT traded down $0.55 on Thursday, hitting $101.02. The stock had a trading volume of 842,891 shares, compared to its average volume of 1,526,602. The company has a fifty day moving average price of $86.11 and a two-hundred day moving average price of $78.25. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.81. The stock has a market cap of $8.55 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 3.36 and a beta of 1.49.

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

Analyst Ratings Changes

Several research firms have issued reports on PLNT. Royal Bank of Canada lifted their price target on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Morgan Stanley increased their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their target price 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. Roth Mkm upped their price target on shares of Planet Fitness from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. Finally, Bank of America boosted their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.81.

Insider Buying and Selling

In other Planet Fitness 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 transaction, the insider now directly owns 19,110 shares of the company's stock, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.94% of the stock is currently owned by corporate 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.