Planet Fitness, Inc. $PLNT Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in Planet Fitness, Inc. (NYSE:PLNT) by 6.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 335,362 shares of the company’s stock after selling 24,393 shares during the period. Bessemer Group Inc.’s holdings in Planet Fitness were worth $36,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. KBC Group NV lifted its position in Planet Fitness by 13.7% during the first quarter. KBC Group NV now owns 3,503 shares of the company’s stock valued at $338,000 after buying an additional 422 shares in the last quarter. GAMMA Investing LLC lifted its position in Planet Fitness by 7.4% during the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company’s stock valued at $217,000 after buying an additional 155 shares in the last quarter. Vanguard Group Inc. lifted its position in Planet Fitness by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock valued at $782,394,000 after buying an additional 62,716 shares in the last quarter. New York State Teachers Retirement System lifted its position in Planet Fitness by 70.6% during the first quarter. New York State Teachers Retirement System now owns 33,600 shares of the company’s stock valued at $3,246,000 after buying an additional 13,900 shares in the last quarter. Finally, Emerald Advisers LLC acquired a new position in Planet Fitness during the first quarter valued at approximately $528,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLNT has been the topic of a number of recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $126.00 price target on shares of Planet Fitness in a research report on Monday, September 15th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research report on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of Planet Fitness from $112.00 to $119.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, UBS Group assumed coverage on shares of Planet Fitness in a research report on Friday, October 17th. They set a “buy” rating and a $125.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Planet Fitness Price Performance

PLNT opened at $96.45 on Tuesday. The stock has a market capitalization of $8.12 billion, a PE ratio of 42.87, a P/E/G ratio of 2.19 and a beta of 1.38. The firm’s fifty day moving average price is $100.81 and its 200 day moving average price is $102.82. Planet Fitness, Inc. has a 12-month low of $77.79 and a 12-month high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. The firm had revenue of $340.88 million for 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%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness Company Profile

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.