AEGON ASSET MANAGEMENT UK Plc Cuts Stake in Planet Fitness, Inc. (NYSE:PLNT)

AEGON ASSET MANAGEMENT UK Plc lowered its stake in Planet Fitness, Inc. (NYSE:PLNT) by 7.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 155,596 shares of the company’s stock after selling 11,774 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Planet Fitness were worth $15,374,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Tidal Investments LLC grew its position in Planet Fitness by 132.5% in the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after acquiring an additional 16,503 shares in the last quarter. State Street Corp grew its holdings in Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after purchasing an additional 37,236 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Planet Fitness during the 3rd quarter worth $604,000. Artemis Investment Management LLP purchased a new position in Planet Fitness in the 4th quarter valued at about $18,767,000. Finally, Quest Partners LLC boosted its position in Planet Fitness by 126.0% in the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock valued at $772,000 after buying an additional 5,298 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PLNT shares. Deutsche Bank Aktiengesellschaft began coverage on Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. Robert W. Baird increased their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Stifel Nicolaus raised their price target 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 reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.69.

Planet Fitness Price Performance

NYSE:PLNT opened at $104.79 on Friday. The firm has a market capitalization of $8.86 billion, a P/E ratio of 56.34, a P/E/G ratio of 2.63 and a beta of 1.52. The business has a 50 day simple moving average of $101.03 and a 200 day simple moving average of $87.68. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $108.41.

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

Insider Activity

In other news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.94% of the company’s stock.

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.