Planet Fitness Inc (PLNT) CEO Sells $13,172,000.00 in Stock

Planet Fitness Inc (NYSE:PLNT) CEO Christopher Rondeau sold 200,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $65.86, for a total transaction of $13,172,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

Christopher Rondeau also recently made the following trade(s):

  • On Tuesday, March 5th, Christopher Rondeau sold 80,000 shares of Planet Fitness stock. The shares were sold at an average price of $63.18, for a total transaction of $5,054,400.00.
  • On Friday, March 1st, Christopher Rondeau sold 58,500 shares of Planet Fitness stock. The shares were sold at an average price of $60.60, for a total transaction of $3,545,100.00.
  • On Wednesday, February 27th, Christopher Rondeau sold 15,500 shares of Planet Fitness stock. The shares were sold at an average price of $60.53, for a total transaction of $938,215.00.
  • On Friday, February 22nd, Christopher Rondeau sold 6,000 shares of Planet Fitness stock. The shares were sold at an average price of $60.53, for a total transaction of $363,180.00.

Planet Fitness stock opened at $67.77 on Friday. The stock has a market capitalization of $6.24 billion, a PE ratio of 55.55, a PEG ratio of 2.33 and a beta of 0.71. Planet Fitness Inc has a 12-month low of $35.92 and a 12-month high of $67.93.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm had revenue of $174.40 million during the quarter, compared to analyst estimates of $173.76 million. Planet Fitness had a net margin of 15.36% and a negative return on equity of 67.65%. The business’s revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business earned $0.24 EPS. On average, research analysts expect that Planet Fitness Inc will post 1.54 earnings per share for the current fiscal year.

Several equities analysts have commented on the stock. ValuEngine lowered shares of Planet Fitness from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Roth Capital increased their price objective on shares of Planet Fitness from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Jefferies Financial Group upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and increased their price objective for the company from $49.00 to $75.00 in a research report on Friday, February 22nd. They noted that the move was a valuation call. Finally, Bank of America reiterated a “buy” rating and set a $72.00 price objective (up previously from $68.00) on shares of Planet Fitness in a research report on Thursday, February 28th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $58.36.

Several institutional investors have recently added to or reduced their stakes in PLNT. Ffcm LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth about $26,000. Meeder Asset Management Inc. increased its stake in Planet Fitness by 99.3% in the 4th quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock worth $31,000 after buying an additional 284 shares during the period. Bessemer Group Inc. increased its stake in Planet Fitness by 30.6% in the 4th quarter. Bessemer Group Inc. now owns 1,127 shares of the company’s stock worth $60,000 after buying an additional 264 shares during the period. Mckinley Capital Management LLC Delaware purchased a new position in Planet Fitness in the 3rd quarter worth about $136,000. Finally, Ibex Investors LLC purchased a new position in Planet Fitness in the 4th quarter worth about $225,000. Hedge funds and other institutional investors own 90.15% of the company’s stock.

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About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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