SG Americas Securities LLC Lowers Holdings in Planet Fitness, Inc. (NYSE:PLNT)

SG Americas Securities LLC lessened its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 54.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,673 shares of the company's stock after selling 8,120 shares during the quarter. SG Americas Securities LLC's holdings in Planet Fitness were worth $660,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PLNT. UMB Bank n.a. boosted its stake in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after purchasing an additional 157 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock worth $40,000 after buying an additional 201 shares during the last quarter. Quarry LP lifted its stake in shares of Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company's stock worth $37,000 after buying an additional 318 shares during the period. GAMMA Investing LLC grew its holdings in shares of Planet Fitness by 396.9% during the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company's stock valued at $154,000 after buying an additional 1,516 shares during the last quarter. Finally, Beaumont Financial Advisors LLC acquired a new position in shares of Planet Fitness in the 4th quarter valued at $202,000. Institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on PLNT. Macquarie reaffirmed a "neutral" rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Piper Sandler raised their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. DA Davidson reaffirmed a "neutral" rating and set a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus lifted their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the company a "hold" rating in a report on Friday, January 17th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness has an average rating of "Moderate Buy" and a consensus price target of $97.69.

Insider Buying and Selling

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 19,110 shares of the company's stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.94% of the stock is owned by insiders.

Planet Fitness Stock Performance

Shares of PLNT traded down $0.07 during midday trading on Monday, hitting $108.09. 696,129 shares of the stock were exchanged, compared to its average volume of 1,425,076. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $110.00. The stock has a fifty day simple moving average of $101.84 and a 200 day simple moving average of $88.99. The firm has a market cap of $9.14 billion, a P/E ratio of 58.17, a P/E/G ratio of 2.67 and a beta of 1.52.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The firm had revenue of $292.20 million during 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 business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal 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.