Thrivent Financial for Lutherans Sells 1,279 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Thrivent Financial for Lutherans cut its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 6.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,870 shares of the company’s stock after selling 1,279 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Planet Fitness were worth $1,614,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Fifth Third Bancorp grew its position in shares of Planet Fitness by 60.2% during the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock worth $14,122,000 after purchasing an additional 72,131 shares in the last quarter. Point72 Asset Management L.P. grew its position in Planet Fitness by 169.8% during the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after buying an additional 829,509 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Planet Fitness during the third quarter worth approximately $13,592,000. ING Groep NV bought a new position in Planet Fitness during the 3rd quarter worth $1,568,000. Finally, Assenagon Asset Management S.A. raised its holdings in Planet Fitness by 202.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 45,928 shares of the company’s stock valued at $3,730,000 after acquiring an additional 30,736 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PLNT has been the topic of several analyst reports. Morgan Stanley increased their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Royal Bank of Canada increased their price objective on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. DA Davidson raised their target price on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday. Robert W. Baird upped their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.38.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $99.55 on Friday. The stock has a market cap of $8.42 billion, a P/E ratio of 54.11, a price-to-earnings-growth ratio of 3.36 and a beta of 1.49. The firm has a 50 day moving average price of $86.45 and a two-hundred day moving average price of $78.41. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $102.81.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. Analysts predict that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.94% of the stock is owned by corporate insiders.

Planet Fitness Company Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.