Diversified Trust Co Sells 6,230 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Diversified Trust Co reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 27.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,141 shares of the company's stock after selling 6,230 shares during the quarter. Diversified Trust Co's holdings in Planet Fitness were worth $1,596,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Tidal Investments LLC boosted its position in shares of Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock valued at $2,352,000 after buying an additional 16,503 shares during the last quarter. State Street Corp lifted its stake in Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company's stock valued at $205,061,000 after acquiring an additional 37,236 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Planet Fitness during the 3rd quarter valued at about $604,000. Quest Partners LLC grew its stake in shares of Planet Fitness by 126.0% in the third quarter. Quest Partners LLC now owns 9,504 shares of the company's stock worth $772,000 after acquiring an additional 5,298 shares during the period. Finally, Qsemble Capital Management LP grew its stake in shares of 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 acquiring an additional 10,518 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PLNT shares. Macquarie reaffirmed a "neutral" rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a report on Friday, September 27th. They set a "hold" rating and a $71.00 target price for the company. Piper Sandler increased their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research report on Monday. Raymond James boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a research report on Friday, November 8th. Finally, Robert W. Baird raised their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a 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 company's stock. According to data from MarketBeat, Planet Fitness currently has an average rating of "Moderate Buy" and an average price target of $96.13.

Insider Activity 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 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 directly owns 19,110 shares of the company's stock, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.94% of the stock is owned by insiders.

Planet Fitness Stock Performance

Shares of Planet Fitness stock traded up $2.42 on Thursday, hitting $100.87. 1,339,343 shares of the company traded hands, compared to its average volume of 1,212,848. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $102.90. The business has a 50-day simple moving average of $97.74 and a 200 day simple moving average of $85.28. The stock has a market capitalization of $8.53 billion, a P/E ratio of 54.23, a price-to-earnings-growth ratio of 3.33 and a beta of 1.52.

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