Bridgewater Associates LP Sells 13,630 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Bridgewater Associates LP cut its stake in Planet Fitness, Inc. (NYSE:PLNT) by 7.2% during the third quarter, HoldingsChannel reports. The fund owned 174,701 shares of the company’s stock after selling 13,630 shares during the quarter. Bridgewater Associates LP’s holdings in Planet Fitness were worth $14,189,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PLNT. William Blair Investment Management LLC purchased a new position in Planet Fitness in the second quarter valued at about $166,978,000. Anomaly Capital Management LP purchased a new position in shares of Planet Fitness in the 2nd quarter worth approximately $106,795,000. Point72 Asset Management L.P. raised its stake in shares of Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after acquiring an additional 829,509 shares in the last quarter. FMR LLC lifted its position in Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after acquiring an additional 691,761 shares during the last quarter. Finally, Dorsal Capital Management LP boosted its stake in Planet Fitness by 7.7% in the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock valued at $213,940,000 after acquiring an additional 207,193 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.94% of the stock is currently owned by company insiders.

Planet Fitness Trading Down 0.5 %

NYSE PLNT opened at $101.02 on Thursday. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 3.36 and a beta of 1.49. The stock has a 50-day moving average of $85.75 and a 200 day moving average of $78.09. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.81.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PLNT shares. Robert W. Baird increased their price objective on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, November 8th. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their target price on shares of Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus upped their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.81.

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.