Amundi Sells 265,413 Shares of Planet Fitness, Inc. $PLNT

Amundi cut its position in Planet Fitness, Inc. (NYSE:PLNT) by 9.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,618,920 shares of the company’s stock after selling 265,413 shares during the quarter. Amundi’s holdings in Planet Fitness were worth $255,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Adage Capital Partners GP L.L.C. bought a new position in shares of Planet Fitness in the first quarter valued at $17,969,000. 1248 Management LLC bought a new position in shares of Planet Fitness in the first quarter valued at $611,000. Royal Bank of Canada grew its stake in shares of Planet Fitness by 8.2% in the first quarter. Royal Bank of Canada now owns 163,546 shares of the company’s stock valued at $15,800,000 after buying an additional 12,450 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Planet Fitness by 54.5% in the first quarter. Armistice Capital LLC now owns 347,558 shares of the company’s stock valued at $33,578,000 after buying an additional 122,612 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Planet Fitness by 30.8% in the first quarter. Quarry LP now owns 2,809 shares of the company’s stock valued at $271,000 after buying an additional 662 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PLNT. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, June 12th. Morgan Stanley lifted their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $108.07.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $102.96 on Friday. The firm has a 50-day moving average of $107.88 and a 200-day moving average of $101.92. The stock has a market cap of $8.67 billion, a PE ratio of 45.76, a PEG ratio of 2.27 and a beta of 1.37. Planet Fitness, Inc. has a 52-week low of $77.77 and a 52-week high of $114.47.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. The company had revenue of $340.88 million during the quarter, compared to analysts’ expectations of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. Planet Fitness’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.