Park Avenue Securities LLC Has $459,000 Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Park Avenue Securities LLC reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 34.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,646 shares of the company’s stock after selling 2,418 shares during the quarter. Park Avenue Securities LLC’s holdings in Planet Fitness were worth $459,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PLNT. Quarry LP lifted its holdings in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in 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 acquiring an additional 201 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock valued at $154,000 after buying an additional 1,516 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Planet Fitness during the 2nd quarter worth approximately $200,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Planet Fitness during the third quarter worth $200,000. 95.53% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is currently owned by company insiders.

Planet Fitness Trading Down 0.9 %

NYSE PLNT opened at $105.53 on Friday. The business’s 50-day moving average price is $100.84 and its two-hundred day moving average price is $87.46. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $108.41. The firm has a market capitalization of $8.93 billion, a PE ratio of 56.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company 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 was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. As a group, analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLNT. Stifel Nicolaus boosted their price objective on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. DA Davidson restated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a report on Tuesday. Macquarie reissued a “neutral” rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Morgan Stanley increased their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Planet Fitness in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus price target 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.