Point72 Asset Management L.P. lowered its holdings in shares of Planet Fitness Inc (NYSE:PLNT) by 54.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 242,577 shares of the company’s stock after selling 290,308 shares during the quarter. Point72 Asset Management L.P. owned 0.25% of Planet Fitness worth $10,659,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PLNT. Bank of America Corp DE raised its position in Planet Fitness by 49.5% during the 2nd quarter. Bank of America Corp DE now owns 898,305 shares of the company’s stock valued at $39,471,000 after purchasing an additional 297,460 shares in the last quarter. Voya Investment Management LLC raised its position in Planet Fitness by 29.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,267,246 shares of the company’s stock valued at $55,683,000 after purchasing an additional 289,968 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in Planet Fitness by 210.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 20,799 shares of the company’s stock valued at $914,000 after purchasing an additional 14,108 shares in the last quarter. Raymond James & Associates raised its position in Planet Fitness by 7.8% during the 2nd quarter. Raymond James & Associates now owns 73,865 shares of the company’s stock valued at $3,246,000 after purchasing an additional 5,351 shares in the last quarter. Finally, OppenheimerFunds Inc. bought a new stake in Planet Fitness during the 2nd quarter valued at $15,098,000. Institutional investors own 92.40% of the company’s stock.

A number of brokerages have weighed in on PLNT. ValuEngine raised Planet Fitness from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. Imperial Capital lifted their target price on Planet Fitness from $40.00 to $45.00 and gave the company an “inline” rating in a research report on Friday, August 10th. Roth Capital set a $55.00 target price on Planet Fitness and gave the company a “buy” rating in a research report on Saturday, August 11th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $60.00 target price on shares of Planet Fitness in a research report on Sunday, August 12th. Finally, Cowen reaffirmed a “buy” rating and set a $58.00 target price on shares of Planet Fitness in a research report on Sunday, August 12th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Planet Fitness has a consensus rating of “Buy” and a consensus price target of $49.58.

PLNT opened at $51.64 on Friday. The firm has a market capitalization of $4.98 billion, a PE ratio of 48.67, a P/E/G ratio of 2.32 and a beta of 0.55. The company has a debt-to-equity ratio of -7.61, a current ratio of 2.08 and a quick ratio of 2.05. Planet Fitness Inc has a 12 month low of $25.55 and a 12 month high of $53.41.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The firm had revenue of $140.55 million during the quarter, compared to analyst estimates of $130.99 million. Planet Fitness had a negative return on equity of 82.89% and a net margin of 11.68%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. research analysts expect that Planet Fitness Inc will post 1.13 earnings per share for the current year.

In other news, CFO Dorvin D. Lively sold 31,893 shares of the business’s stock in a transaction on Friday, September 7th. The stock was sold at an average price of $50.82, for a total value of $1,620,802.26. Following the completion of the transaction, the chief financial officer now directly owns 31,893 shares of the company’s stock, valued at approximately $1,620,802.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher Rondeau sold 26,377 shares of the business’s stock in a transaction on Monday, June 18th. The stock was sold at an average price of $45.32, for a total value of $1,195,405.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 565,049 shares of company stock valued at $28,022,162. Corporate insiders own 19.87% 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 name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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