Planet Fitness (NYSE:PLNT) COO William Bode Sells 7,000 Shares

Key Points

• Planet Fitness COO William Bode sold 7,000 shares at an average price of $51.22, generating $358,540 and reducing his position by 17.53% to 32,939 shares.
• Planet Fitness shares recently traded at $50.05, well below their 200-day moving average of $59.28. The stock has a $3.78 billion market capitalization and a 52-week range of $37.03 to $114.26.
• The company exceeded quarterly expectations, reporting adjusted earnings of $0.88 per share and revenue of $365.22 million, up 7.1% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $70.24.

Planet Fitness, Inc. (NYSE:PLNT - Get Free Report) COO William Bode sold 7,000 shares of Planet Fitness stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $51.22, for a total value of $358,540.00. Following the completion of the transaction, the chief operating officer owned 32,939 shares of the company's stock, valued at $1,687,135.58. The trade was a 17.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Planet Fitness Price Performance

Shares of Planet Fitness stock traded down $0.76 on Wednesday, reaching $50.05. 2,066,022 shares of the company were exchanged, compared to its average volume of 2,065,675. The stock's 50 day moving average price is $52.36 and its 200-day moving average price is $59.28. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.26. The company has a market cap of $3.78 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.03. Planet Fitness had a net margin of 16.88% and a negative return on equity of 59.46%. The firm had revenue of $365.22 million for the quarter, compared to analysts' expectations of $356.21 million. During the same quarter last year, the company earned $0.86 earnings per share. The firm's revenue was up 7.1% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, research analysts predict that Planet Fitness, Inc. will post 3.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on PLNT. Weiss Ratings downgraded shares of Planet Fitness from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, June 18th. Cantor Fitzgerald set a $62.00 price target on Planet Fitness in a research note on Thursday, July 9th. TD Cowen reaffirmed a "hold" rating on shares of Planet Fitness in a report on Friday, May 29th. Morgan Stanley upped their price objective on Planet Fitness from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $55.00 price objective on shares of Planet Fitness in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.24.

Institutional Investors Weigh In On Planet Fitness

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in Planet Fitness by 19.6% in the second quarter. Tidal Investments LLC now owns 60,136 shares of the company's stock valued at $3,137,000 after acquiring an additional 9,848 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Planet Fitness during the second quarter worth about $590,000. Engineers Gate Manager LP purchased a new stake in shares of Planet Fitness in the 2nd quarter valued at about $1,859,000. Allworth Financial LP lifted its holdings in shares of Planet Fitness by 15.5% in the 2nd quarter. Allworth Financial LP now owns 1,699 shares of the company's stock valued at $89,000 after purchasing an additional 228 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Planet Fitness in the 2nd quarter valued at about $196,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

About Planet Fitness

Planet Fitness, Inc NYSE: PLNT is a franchised fitness-center company that operates under the Planet Fitness brand. Its clubs provide access to cardiovascular and strength-training equipment, free weights, locker rooms, and other basic fitness amenities in a low-cost, welcoming environment designed to appeal to a broad range of consumers.

The company is known for its “Judgement Free Zone” concept, which emphasizes an approachable atmosphere for first-time, casual, and experienced gym users.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.