Victory Capital Management Inc. Sells 139,144 Shares of Planet Fitness Inc (PLNT)
Victory Capital Management Inc. lowered its position in Planet Fitness Inc (NYSE:PLNT) by 8.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,482,964 shares of the company’s stock after selling 139,144 shares during the quarter. Victory Capital Management Inc.’s holdings in Planet Fitness were worth $51,356,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PLNT. Goldman Sachs Group Inc. boosted its stake in Planet Fitness by 1,196.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 243,061 shares of the company’s stock worth $5,673,000 after purchasing an additional 224,311 shares during the period. BlackRock Inc. boosted its stake in Planet Fitness by 108.4% in the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after purchasing an additional 2,496,984 shares during the period. Dai Ichi Life Insurance Company Ltd bought a new position in Planet Fitness in the 3rd quarter worth about $3,722,000. Renaissance Technologies LLC boosted its stake in Planet Fitness by 7.4% in the 2nd quarter. Renaissance Technologies LLC now owns 799,306 shares of the company’s stock worth $18,656,000 after purchasing an additional 55,288 shares during the period. Finally, Brown Advisory Inc. bought a new position in Planet Fitness in the 3rd quarter worth about $427,000.
Several research analysts have commented on the company. Bank of America raised their target price on Planet Fitness from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Cowen restated a “buy” rating and issued a $30.00 target price on shares of Planet Fitness in a research note on Friday, November 10th. Imperial Capital raised their target price on Planet Fitness from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Wednesday, October 11th. Finally, DA Davidson assumed coverage on Planet Fitness in a research note on Monday, November 20th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $34.00.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results 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 firm had revenue of $97.50 million during the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.16 EPS. sell-side analysts forecast that Planet Fitness Inc will post 0.82 earnings per share for the current year.
In other news, CEO Christopher Rondeau sold 80,000 shares of Planet Fitness stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $29.34, for a total transaction of $2,347,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Richard L. Moore sold 49,753 shares of Planet Fitness stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $30.51, for a total value of $1,517,964.03. Following the sale, the chief accounting officer now owns 49,753 shares of the company’s stock, valued at approximately $1,517,964.03. The disclosure for this sale can be found here. In the last quarter, insiders have sold 838,427 shares of company stock valued at $26,957,715. Corporate insiders own 19.87% of the company’s stock.
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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