Bank of Montreal Can Sells 128,763 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Bank of Montreal Can lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 84.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,245 shares of the company’s stock after selling 128,763 shares during the period. Bank of Montreal Can’s holdings in Planet Fitness were worth $1,871,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PLNT. Verdence Capital Advisors LLC increased its position in Planet Fitness by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock valued at $247,000 after buying an additional 132 shares in the last quarter. LRI Investments LLC increased its holdings in shares of Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares in the last quarter. Creative Planning raised its position in shares of Planet Fitness by 2.1% in the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after purchasing an additional 192 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Planet Fitness by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock worth $1,825,000 after purchasing an additional 200 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.94% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLNT has been the subject of a number of research reports. Macquarie reaffirmed a “neutral” rating and set a $99.00 price target (up previously from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus increased their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada upped their price objective on shares of Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Five investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.38.

Planet Fitness Price Performance

NYSE PLNT opened at $100.40 on Friday. The firm’s fifty day moving average price is $88.12 and its 200 day moving average price is $79.60. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $102.81. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of 53.98, a price-to-earnings-growth ratio of 3.30 and a beta of 1.53.

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