Lbp Am Sa Sells 9,137 Shares of Planet Fitness, Inc. $PLNT

Key Points

• Lbp Am Sa reduced its holdings in Planet Fitness by 41.6%, selling 9,137 shares, and currently holds 12,808 shares valued at approximately $1.4 million.
• During the same period, other institutional investors significantly increased their stakes, with Brooklyn Investment Group raising its position by 57.8% and First Horizon Advisors Inc. by 187.6%.
• On August 6th, Planet Fitness reported $0.86 EPS for the quarter, exceeding estimates, with revenue increasing by 13.3% year-over-year to $340.88 million.

Lbp Am Sa reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 41.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,808 shares of the company's stock after selling 9,137 shares during the period. Lbp Am Sa's holdings in Planet Fitness were worth $1,397,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its position in Planet Fitness by 57.8% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock worth $31,000 after buying an additional 118 shares during the period. First Horizon Advisors Inc. increased its position in Planet Fitness by 187.6% in the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after buying an additional 242 shares during the period. Farther Finance Advisors LLC increased its position in Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock worth $50,000 after buying an additional 387 shares during the period. New Age Alpha Advisors LLC bought a new position in Planet Fitness in the 1st quarter worth approximately $65,000. Finally, Friedenthal Financial bought a new position in Planet Fitness in the 1st quarter worth approximately $76,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

Shares of PLNT stock opened at $102.80 on Friday. The stock's fifty day simple moving average is $105.06 and its 200 day simple moving average is $102.89. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 45.69, a P/E/G ratio of 2.29 and a beta of 1.38. Planet Fitness, Inc. has a one year low of $77.77 and a one year high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. The business had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.Planet Fitness's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PLNT. Canaccord Genuity Group reissued a "buy" rating and set a $126.00 price objective on shares of Planet Fitness in a report on Monday, September 15th. Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Planet Fitness in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $111.54.

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.

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