Planet Fitness, Inc. (NYSE:PLNT) Position Reduced by American Century Companies Inc.

American Century Companies Inc. trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 30.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 401,728 shares of the company’s stock after selling 176,363 shares during the period. American Century Companies Inc. owned approximately 0.46% of Planet Fitness worth $29,563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in Planet Fitness by 3.8% in the 2nd quarter. Arizona State Retirement System now owns 24,383 shares of the company’s stock valued at $1,794,000 after acquiring an additional 903 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Planet Fitness by 3.3% in the 2nd quarter. Victory Capital Management Inc. now owns 18,202 shares of the company’s stock worth $1,339,000 after purchasing an additional 584 shares in the last quarter. Simon Quick Advisors LLC acquired a new stake in Planet Fitness during the second quarter valued at approximately $300,000. Avory & Company LLC boosted its holdings in Planet Fitness by 1.2% during the second quarter. Avory & Company LLC now owns 67,665 shares of the company’s stock worth $4,979,000 after buying an additional 800 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Planet Fitness by 2.0% in the second quarter. Rhumbline Advisers now owns 243,523 shares of the company’s stock worth $17,921,000 after buying an additional 4,768 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PLNT shares. Roth Mkm increased 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. TD Cowen raised Planet Fitness from a “hold” rating to a “buy” rating and boosted their target price for the stock from $66.00 to $92.00 in a research report on Monday, June 24th. Piper Sandler increased their price target on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $100.00 in a report on Monday, June 10th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research note on Friday, June 14th. Three research 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. Based on data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average price target of $85.93.

Insiders Place Their Bets

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

Planet Fitness Stock Performance

Shares of PLNT opened at $83.17 on Thursday. The company has a market capitalization of $7.33 billion, a PE ratio of 47.80, a PEG ratio of 2.75 and a beta of 1.49. The company’s 50 day moving average price is $78.25 and its 200 day moving average price is $69.56. Planet Fitness, Inc. has a 52 week low of $44.13 and a 52 week high of $83.98.

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

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.