Planet Fitness, Inc. (PLNT) Position Trimmed by Mackenzie Financial Corp
Mackenzie Financial Corp trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 46.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,884 shares of the company’s stock after selling 405,500 shares during the period. Mackenzie Financial Corp owned 0.47% of Planet Fitness worth $12,381,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new position in Planet Fitness in the 2nd quarter valued at $145,000. Ameritas Investment Partners Inc. boosted its position in Planet Fitness by 234.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock valued at $173,000 after buying an additional 5,189 shares during the last quarter. Fortaleza Asset Management Inc. boosted its position in Planet Fitness by 57.9% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock valued at $183,000 after buying an additional 2,870 shares during the last quarter. Prudential Financial Inc. bought a new position in Planet Fitness in the 3rd quarter valued at $214,000. Finally, Great West Life Assurance Co. Can boosted its position in Planet Fitness by 126.5% in the 2nd quarter. Great West Life Assurance Co. Can now owns 10,137 shares of the company’s stock valued at $236,000 after buying an additional 5,662 shares during the last quarter.
Planet Fitness, Inc. (NYSE:PLNT) traded up $0.62 during trading hours on Friday, hitting $32.29. The stock had a trading volume of 983,200 shares, compared to its average volume of 1,210,717. Planet Fitness, Inc. has a 1-year low of $18.32 and a 1-year high of $32.92. The company has a debt-to-equity ratio of -5.00, a current ratio of 1.57 and a quick ratio of 1.56. The company has a market cap of $3,180.00 and a price-to-earnings ratio of 39.59.
Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The firm had revenue of $97.50 million for the quarter, compared to analyst estimates of $93.55 million. Planet Fitness had a negative return on equity of 44.91% and a net margin of 11.44%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. sell-side analysts predict that Planet Fitness, Inc. will post 0.82 earnings per share for the current year.
A number of research analysts have commented on PLNT shares. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Wednesday, October 11th. Jefferies Group restated a “buy” rating and issued a $29.00 price target on shares of Planet Fitness in a research report on Thursday, October 19th. Cowen restated a “buy” rating and issued a $30.00 price target on shares of Planet Fitness in a research report on Friday, November 10th. BidaskClub upgraded Planet Fitness from a “hold” rating to a “buy” rating in a research report on Friday, September 22nd. Finally, Imperial Capital raised their price target on Planet Fitness from $28.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $29.60.
In other Planet Fitness news, CAO Richard L. Moore sold 9,200 shares of Planet Fitness stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $27.02, for a total transaction of $248,584.00. Following the transaction, the chief accounting officer now directly owns 9,200 shares in the company, valued at $248,584. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Rondeau sold 60,000 shares of Planet Fitness stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $31.98, for a total value of $1,918,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 705,753 shares of company stock worth $20,773,071. Corporate insiders own 19.87% of the company’s stock.
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Planet Fitness Company Profile
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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