Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 934,827 shares of the company's stock after selling 19,277 shares during the period. Charles Schwab Investment Management Inc. owned 1.10% of Planet Fitness worth $75,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PLNT. Verdence Capital Advisors LLC increased its stake in Planet Fitness by 4.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company's stock valued at $247,000 after buying an additional 132 shares during the period. LRI Investments LLC boosted its holdings 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 acquiring an additional 153 shares in the last quarter. Creative Planning increased its stake in shares of Planet Fitness by 2.1% during the third quarter. Creative Planning now owns 9,144 shares of the company's stock worth $743,000 after acquiring an additional 192 shares during the period. Louisiana State Employees Retirement System raised its holdings in Planet Fitness by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company's stock worth $1,825,000 after purchasing an additional 200 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its position in 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 purchasing an additional 201 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.94% of the stock is owned by corporate insiders.

Planet Fitness Trading Down 0.5 %

Shares of NYSE:PLNT traded down $0.55 on Thursday, hitting $101.02. The company had a trading volume of 842,891 shares, compared to its average volume of 1,526,602. The company has a market cap of $8.55 billion, a PE ratio of 54.31, a PEG ratio of 3.36 and a beta of 1.49. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $102.81. The business has a 50 day moving average of $86.11 and a 200 day moving average of $78.25.

Planet Fitness (NYSE:PLNT - Get Free Report) last released 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 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%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. As a group, equities analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Analyst Upgrades and Downgrades

PLNT has been the topic of several recent analyst reports. BNP Paribas upgraded 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. Morgan Stanley upped their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a "hold" rating and a $71.00 price target for the company. Stifel Nicolaus boosted their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a "hold" rating in a report on Wednesday, October 16th. Finally, Bank of America upped their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.81.

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.