Amalgamated Bank Sells 2,269 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Amalgamated Bank reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,805 shares of the company’s stock after selling 2,269 shares during the quarter. Amalgamated Bank owned 0.05% of Planet Fitness worth $3,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new stake in Planet Fitness during the first quarter valued at approximately $27,000. GAMMA Investing LLC increased its stake in shares of Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC raised its holdings in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the period. Dnca Finance purchased a new position in Planet Fitness during the second quarter valued at $82,000. Finally, Headlands Technologies LLC bought a new stake in Planet Fitness during the first quarter valued at about $148,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLNT. Roth Mkm lifted their price objective on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.00 to $100.00 in a report on Monday, June 10th. Piper Sandler increased their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. BMO Capital Markets restated an “outperform” rating and set a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Finally, BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price for the company in a report on Thursday, September 5th. Three equities research 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $85.93.

Insider Transactions at Planet Fitness

In related news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 5.94% of the company’s stock.

Planet Fitness Trading Down 2.7 %

NYSE:PLNT opened at $82.05 on Tuesday. The business’s 50-day moving average is $78.96 and its 200 day moving average is $70.10. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $85.08. The company has a market capitalization of $7.24 billion, a P/E ratio of 47.16, a P/E/G ratio of 2.77 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The firm had revenue of $300.94 million during the quarter, compared to the consensus estimate of $290.17 million. During the same period in the prior year, the company earned $0.65 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, research analysts forecast that Planet Fitness, Inc. will post 2.44 earnings per share for the current year.

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.