Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 16,227 shares of the company’s stock after selling 1,975 shares during the period. Victory Capital Management Inc.’s holdings in Planet Fitness were worth $1,318,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings 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 last quarter. LRI Investments LLC raised its holdings in shares of 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. Quarry LP lifted its stake in shares of Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 318 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Planet Fitness by 69.8% during 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 during the period. Finally, Dnca Finance acquired a new stake in Planet Fitness during the 2nd quarter worth approximately $82,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

NYSE PLNT opened at $101.56 on Wednesday. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.20. The firm has a market cap of $8.59 billion, a P/E ratio of 54.12, a P/E/G ratio of 3.37 and a beta of 1.49. The stock’s 50-day moving average is $85.36 and its 200-day moving average is $77.83.

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

Insiders Place Their Bets

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PLNT. Royal Bank of Canada increased their price objective on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Roth Mkm raised 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. BNP Paribas upgraded Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price for the company in a research note on Thursday, September 5th. Finally, Macquarie reissued a “neutral” rating and set a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.81.

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.