SG Americas Securities LLC Lowers Position in Planet Fitness, Inc. (NYSE:PLNT)

SG Americas Securities LLC trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 54.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,673 shares of the company’s stock after selling 8,120 shares during the quarter. SG Americas Securities LLC’s holdings in Planet Fitness were worth $660,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after purchasing an additional 37,236 shares in the last quarter. FMR LLC lifted its stake in shares of Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares during the period. Artemis Investment Management LLP purchased a new stake in Planet Fitness during the fourth quarter worth about $18,767,000. Nordea Investment Management AB grew its position in Planet Fitness by 4.9% during the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company’s stock worth $18,205,000 after buying an additional 8,600 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new position in Planet Fitness in the third quarter valued at about $13,592,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Stock Up 1.4 %

Shares of Planet Fitness stock opened at $109.06 on Friday. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The business’s fifty day moving average is $101.71 and its two-hundred day moving average is $88.61. The firm has a market cap of $9.23 billion, a PE ratio of 58.64, a P/E/G ratio of 2.63 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million for the quarter, compared to the consensus estimate 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 for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 earnings per share. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Insider Transactions 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 stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.94% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PLNT shares. Piper Sandler boosted their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Raymond James raised their price target on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Robert W. Baird boosted their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Morgan Stanley increased their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Five investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

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.