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

AEGON ASSET MANAGEMENT UK Plc reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,596 shares of the company’s stock after selling 11,774 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.18% of Planet Fitness worth $15,374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PLNT. Cetera Trust Company N.A increased its stake in Planet Fitness by 5.2% during the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock worth $268,000 after purchasing an additional 135 shares during the period. Beaumont Financial Advisors LLC acquired a new position in shares of Planet Fitness in the fourth quarter valued at approximately $202,000. UMB Bank n.a. increased its stake in Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after buying an additional 157 shares during the period. Artemis Investment Management LLP acquired a new stake in Planet Fitness during the 4th quarter worth approximately $18,767,000. Finally, Arkadios Wealth Advisors boosted its position in Planet Fitness by 26.6% in the 4th quarter. Arkadios Wealth Advisors now owns 10,984 shares of the company’s stock valued at $1,086,000 after buying an additional 2,305 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLNT has been the topic of several analyst reports. Morgan Stanley increased their price objective on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Macquarie reaffirmed a “neutral” rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Stifel Nicolaus increased their target price on Planet Fitness from $85.00 to $90.00 and gave the company a “hold” rating in a report on Friday, January 17th. Raymond James increased their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird boosted their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.69.

Insider Buying and Selling at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The shares were 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 in the company, valued at $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.94% of the stock is owned by insiders.

Planet Fitness Stock Down 0.7 %

Shares of Planet Fitness stock opened at $104.79 on Friday. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $108.41. The company’s 50-day simple moving average is $101.03 and its 200-day simple moving average is $87.68. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 56.34, a price-to-earnings-growth ratio of 2.63 and a beta of 1.52.

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