Point72 Asset Management L.P. Sells 1,019,665 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Point72 Asset Management L.P. cut its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 77.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 298,244 shares of the company's stock after selling 1,019,665 shares during the period. Point72 Asset Management L.P. owned about 0.35% of Planet Fitness worth $24,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PLNT. Tidal Investments LLC raised its position in Planet Fitness by 71.3% in the first quarter. Tidal Investments LLC now owns 4,941 shares of the company's stock worth $309,000 after acquiring an additional 2,056 shares during the period. Cetera Investment Advisers grew its holdings in Planet Fitness by 74.5% during the first quarter. Cetera Investment Advisers now owns 58,699 shares of the company's stock valued at $3,676,000 after purchasing an additional 25,054 shares during the period. Cetera Advisors LLC increased its position in Planet Fitness by 568.8% in the first quarter. Cetera Advisors LLC now owns 25,320 shares of the company's stock worth $1,586,000 after buying an additional 21,534 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $28,000 after buying an additional 316 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Planet Fitness by 82.8% during the 2nd quarter. SG Americas Securities LLC now owns 14,497 shares of the company's stock valued at $1,067,000 after buying an additional 6,566 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Stock Performance

PLNT traded down $0.50 during trading on Friday, reaching $99.87. The stock had a trading volume of 570,175 shares, compared to its average volume of 1,504,009. The business has a 50-day moving average of $88.12 and a 200-day moving average of $79.60. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.81. The stock has a market cap of $8.45 billion, a PE ratio of 53.98, a PEG ratio of 3.30 and a beta of 1.53.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million for the quarter, compared to analyst estimates 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 was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. Equities research analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

PLNT has been the topic of a number of research reports. Bank of America boosted their price objective on Planet Fitness from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Morgan Stanley lifted their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. Raymond James increased their target price 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. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Finally, DA Davidson increased their price objective on Planet Fitness from $70.00 to $87.00 and gave the stock a "neutral" rating in a report on Friday, November 29th. Five investment 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. Based on data from MarketBeat, Planet Fitness presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.38.

Insiders Place Their Bets

In other 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 transaction, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.94% of the company's stock.

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.