Victory Capital Management Inc. Sells 1,975 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Victory Capital Management Inc. lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,227 shares of the company’s stock after selling 1,975 shares during the period. Victory Capital Management Inc.’s holdings in Planet Fitness were worth $1,318,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dorsal Capital Management LP grew its stake in Planet Fitness by 7.7% in the 2nd quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock valued at $213,940,000 after purchasing an additional 207,193 shares during the period. William Blair Investment Management LLC bought a new position in Planet Fitness during the second quarter valued at about $166,978,000. Anomaly Capital Management LP bought a new position in Planet Fitness during the second quarter valued at about $106,795,000. Point72 Asset Management L.P. raised its position in Planet Fitness by 169.8% in the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after acquiring an additional 829,509 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Planet Fitness by 18.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,099,448 shares of the company’s stock valued at $80,910,000 after acquiring an additional 173,536 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLNT has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 price target for the company. Raymond James boosted their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Finally, Bank of America upped their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.81.

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.83% of the stock is currently owned by company insiders.

Planet Fitness Stock Up 0.6 %

Shares of NYSE PLNT opened at $101.56 on Wednesday. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.20. The business has a fifty day simple moving average of $85.36 and a two-hundred day simple moving average of $77.83. The firm has a market cap of $8.59 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 3.37 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $283.79 million. During the same period last year, the business posted $0.59 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Planet Fitness 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.