Victory Capital Management Inc. Sells 49,450 Shares of Planet Fitness, Inc. (PLNT)
Victory Capital Management Inc. trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,622,108 shares of the company’s stock after selling 49,450 shares during the period. Victory Capital Management Inc. owned approximately 1.89% of Planet Fitness worth $43,764,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Planet Fitness by 1,196.3% during the second quarter. Goldman Sachs Group Inc. now owns 243,061 shares of the company’s stock valued at $5,673,000 after acquiring an additional 224,311 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Planet Fitness during the first quarter valued at approximately $1,234,000. Federated Investors Inc. PA increased its position in shares of Planet Fitness by 26.8% during the second quarter. Federated Investors Inc. PA now owns 270,000 shares of the company’s stock valued at $6,302,000 after acquiring an additional 57,000 shares in the last quarter. BlackRock Inc. increased its position in shares of Planet Fitness by 108.4% during the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after acquiring an additional 2,496,984 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Planet Fitness by 7.7% during the second quarter. Principal Financial Group Inc. now owns 851,131 shares of the company’s stock valued at $19,866,000 after acquiring an additional 60,939 shares in the last quarter.
In related news, CAO Richard L. Moore sold 1,640 shares of Planet Fitness stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $27.00, for a total transaction of $44,280.00. Following the transaction, the chief accounting officer now owns 1,640 shares in the company, valued at approximately $44,280. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher Rondeau sold 20,000 shares of Planet Fitness stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $26.75, for a total transaction of $535,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,640 shares of company stock valued at $2,158,080. Insiders own 19.87% of the company’s stock.
PLNT has been the subject of several analyst reports. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, July 12th. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $29.00 target price on shares of Planet Fitness in a research report on Thursday, September 14th. Imperial Capital lifted their target price on shares of Planet Fitness from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 15th. Finally, Roth Capital lifted their target price on shares of Planet Fitness from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $28.00.
Shares of Planet Fitness, Inc. (PLNT) opened at $26.79 on Tuesday. The company has a debt-to-equity ratio of -4.46, a quick ratio of 1.28 and a current ratio of 1.29. The stock has a market cap of $2,637.80, a PE ratio of 34.83, a price-to-earnings-growth ratio of 1.89 and a beta of 0.84.
Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The firm had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. equities analysts anticipate that Planet Fitness, Inc. will post 0.78 earnings per share for the current year.
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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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