Planet Fitness Inc (NYSE:PLNT) Shares Sold by Argent Capital Management LLC

Argent Capital Management LLC decreased its holdings in shares of Planet Fitness Inc (NYSE:PLNT) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,115 shares of the company’s stock after selling 10,750 shares during the period. Argent Capital Management LLC owned approximately 0.09% of Planet Fitness worth $5,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in shares of Planet Fitness by 57.7% during the 4th quarter. FMR LLC now owns 7,135,122 shares of the company’s stock worth $382,585,000 after purchasing an additional 2,610,693 shares in the last quarter. Norges Bank acquired a new position in shares of Planet Fitness in the 4th quarter valued at $42,748,000. Pelham Capital Ltd. acquired a new position in shares of Planet Fitness in the 1st quarter valued at $44,047,000. JPMorgan Chase & Co. boosted its holdings in shares of Planet Fitness by 98.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,118,663 shares of the company’s stock valued at $76,874,000 after purchasing an additional 554,127 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in shares of Planet Fitness by 56.2% in the 1st quarter. Federated Investors Inc. PA now owns 907,140 shares of the company’s stock valued at $62,339,000 after purchasing an additional 326,431 shares during the last quarter. Institutional investors and hedge funds own 94.00% of the company’s stock.

In other Planet Fitness news, 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 value of $13,172,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.52% of the stock is currently owned by corporate insiders.

Several equities analysts recently weighed in on PLNT shares. ValuEngine upgraded shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 1st. Bank of America reissued a “buy” rating and issued a $72.00 target price (up previously from $68.00) on shares of Planet Fitness in a research report on Thursday, February 28th. Piper Jaffray Companies boosted their target price on shares of Planet Fitness from $70.00 to $84.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. They noted that the move was a valuation call. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and boosted 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, Zacks Investment Research lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $67.57.

Planet Fitness stock opened at $77.96 on Monday. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 63.90, a P/E/G ratio of 2.33 and a beta of 0.72. Planet Fitness Inc has a twelve month low of $42.06 and a twelve month high of $81.76.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, May 2nd. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $148.82 million during the quarter, compared to the consensus estimate of $153.41 million. Planet Fitness had a net margin of 15.91% and a negative return on equity of 53.73%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. Equities research analysts expect that Planet Fitness Inc will post 1.55 earnings per share for the current year.

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Planet Fitness Profile

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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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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