Oppenheimer Asset Management Inc. Sells 5,139 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Oppenheimer Asset Management Inc. cut its position in Planet Fitness, Inc. (NYSE:PLNT) by 46.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,927 shares of the company’s stock after selling 5,139 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Planet Fitness were worth $436,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares during the period. LRI Investments LLC grew its position in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the period. Fidelis Capital Partners LLC bought a new stake in Planet Fitness during the 1st quarter valued at $27,000. Dnca Finance acquired a new position in Planet Fitness during the second quarter worth $82,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Planet Fitness by 169.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,181 shares of the company’s stock valued at $86,000 after buying an additional 743 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $84.34 on Friday. The stock has a market capitalization of $7.18 billion, a PE ratio of 48.47, a P/E/G ratio of 2.77 and a beta of 1.49. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $85.08. The business’s fifty day moving average price is $78.67 and its 200-day moving average price is $69.76.

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

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total transaction of $497,153.36. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. 5.94% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PLNT. Royal Bank of Canada upped their target price on shares of Planet Fitness from $77.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the company from $62.00 to $100.00 in a report on Monday, June 10th. Robert W. Baird reiterated an “outperform” rating and set a $92.00 price target on shares of Planet Fitness in a report on Monday, August 26th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective on the stock in a research note on Thursday, September 5th. Finally, Piper Sandler upped their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Three 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.93.

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.