Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 78.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,334 shares of the company’s stock after selling 33,878 shares during the period. BNP Paribas Financial Markets’ holdings in Planet Fitness were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in Planet Fitness by 126.0% in the third quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock valued at $772,000 after purchasing an additional 5,298 shares during the last quarter. Qsemble Capital Management LP boosted its stake in shares of Planet Fitness by 100.6% in the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock worth $1,703,000 after buying an additional 10,518 shares during the last quarter. Premier Fund Managers Ltd acquired a new stake in Planet Fitness during the third quarter worth about $775,000. Banco Santander S.A. purchased a new position in Planet Fitness during the third quarter valued at approximately $637,000. Finally, Fifth Third Bancorp boosted its position in Planet Fitness by 60.2% in 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. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.94% of the stock is owned by company insiders.

Planet Fitness Trading Up 1.8 %

NYSE:PLNT opened at $102.02 on Thursday. The company has a market cap of $8.63 billion, a P/E ratio of 54.85, a P/E/G ratio of 3.31 and a beta of 1.53. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.88. The company’s 50-day moving average price is $89.61 and its 200-day moving average price is $80.70.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $283.79 million. During the same period in the previous year, the firm posted $0.59 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PLNT shares. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target on the stock in a report on Thursday, September 5th. Bank of America increased their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 price target on the stock. Finally, Morgan Stanley upped their target price on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.38.

About Planet Fitness

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.