Insider Selling: Planet Fitness, Inc. (PLNT) CFO Sells $4,596,912.60 in Stock
Planet Fitness, Inc. (NYSE:PLNT) CFO Dorvin D. Lively sold 144,557 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $31.80, for a total value of $4,596,912.60. Following the completion of the transaction, the chief financial officer now directly owns 38,674 shares in the company, valued at approximately $1,229,833.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Planet Fitness, Inc. (NYSE:PLNT) opened at $31.89 on Friday. Planet Fitness, Inc. has a 1-year low of $18.32 and a 1-year high of $32.92. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00. The stock has a market capitalization of $3,130.00 and a price-to-earnings ratio of 38.90.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The company had revenue of $97.50 million during the quarter, compared to analysts’ expectations of $93.55 million. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. Planet Fitness’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. equities analysts expect that Planet Fitness, Inc. will post 0.82 earnings per share for the current year.
Several brokerages recently issued reports on PLNT. Cowen reissued a “buy” rating and set a $30.00 target price on shares of Planet Fitness in a research note on Friday, November 10th. Jefferies Group restated a “buy” rating and set a $33.00 price target on shares of Planet Fitness in a report on Friday, November 10th. BidaskClub upgraded Planet Fitness from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Roth Capital raised their price target on Planet Fitness from $23.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $29.60.
A number of hedge funds and other institutional investors have recently modified their holdings of PLNT. Envestnet Asset Management Inc. raised its position in Planet Fitness by 164.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,865 shares of the company’s stock valued at $131,000 after purchasing an additional 3,022 shares in the last quarter. D.A. Davidson & CO. bought a new stake in Planet Fitness during the 2nd quarter valued at $145,000. Ameritas Investment Partners Inc. raised its position in shares of Planet Fitness by 234.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after acquiring an additional 5,189 shares in the last quarter. Fortaleza Asset Management Inc. raised its position in shares of Planet Fitness by 57.9% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after acquiring an additional 2,870 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Planet Fitness in the 3rd quarter worth $214,000.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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