Richard L. Moore Sells 8,200 Shares of Planet Fitness Inc. (PLNT) Stock
Planet Fitness Inc. (NYSE:PLNT) insider Richard L. Moore sold 8,200 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $21.00, for a total value of $172,200.00. Following the completion of the transaction, the insider now owns 8,200 shares in the company, valued at approximately $172,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Planet Fitness Inc. (NYSE:PLNT) opened at 20.01 on Friday. The stock has a 50 day moving average price of $20.98 and a 200-day moving average price of $18.41. Planet Fitness Inc. has a one year low of $13.23 and a one year high of $23.41. The firm’s market capitalization is $890.22 million.
Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, August 11th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $91.50 million for the quarter, compared to the consensus estimate of $78.95 million. Planet Fitness had a return on equity of 2,244.54% and a net margin of 1.74%. Planet Fitness’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. On average, equities analysts forecast that Planet Fitness Inc. will post $0.47 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. bought a new stake in Planet Fitness during the second quarter worth about $16,199,000. State Street Corp boosted its position in Planet Fitness by 4.3% in the first quarter. State Street Corp now owns 220,638 shares of the company’s stock worth $3,581,000 after buying an additional 9,010 shares during the last quarter. Geode Capital Management LLC boosted its position in Planet Fitness by 18.9% in the first quarter. Geode Capital Management LLC now owns 87,969 shares of the company’s stock worth $1,428,000 after buying an additional 14,002 shares during the last quarter. Commonwealth Equity Services Inc boosted its position in Planet Fitness by 3.8% in the first quarter. Commonwealth Equity Services Inc now owns 15,575 shares of the company’s stock worth $253,000 after buying an additional 575 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new position in Planet Fitness during the first quarter worth approximately $2,994,000. 83.52% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on PLNT shares. Jefferies Group reiterated a “buy” rating and set a $26.00 price target (up previously from $25.00) on shares of Planet Fitness in a research note on Friday, August 12th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, August 16th. Wedbush restated an “outperform” rating and set a $23.00 target price (up previously from $21.00) on shares of Planet Fitness in a research note on Thursday, August 11th. Credit Suisse Group AG restated an “outperform” rating and set a $19.00 target price on shares of Planet Fitness in a research note on Monday, June 27th. Finally, Imperial Capital increased their target price on Planet Fitness from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Planet Fitness has an average rating of “Buy” and a consensus price target of $21.95.
Planet Fitness Company Profile
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise, Corporate-owned stores and Equipment. The Franchise segment includes operations related to its franchising business in the United States, Puerto Rico, Canada and the Dominican Republic.
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