Zions Bancorporation N.A. Has $1.18 Million Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Zions Bancorporation N.A. decreased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,089 shares of the company’s stock after selling 544 shares during the period. Zions Bancorporation N.A.’s holdings in Planet Fitness were worth $1,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Planet Fitness by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after purchasing an additional 97,823 shares during the last quarter. Cadian Capital Management LP boosted its holdings in Planet Fitness by 9.6% in the fourth quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock worth $323,417,000 after acquiring an additional 386,861 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Planet Fitness by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,592,136 shares of the company’s stock valued at $162,345,000 after acquiring an additional 66,139 shares in the last quarter. Dorsal Capital Management LP purchased a new position in Planet Fitness during the fourth quarter worth about $182,500,000. Finally, Price T Rowe Associates Inc. MD grew its position in Planet Fitness by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock valued at $116,453,000 after buying an additional 483,586 shares during the period. Institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the transaction, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at $524,549.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.94% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. DA Davidson reiterated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research note on Friday, June 14th. Royal Bank of Canada lifted their price target on Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Robert W. Baird reaffirmed an “outperform” rating and set a $92.00 price objective on shares of Planet Fitness in a research report on Monday, August 26th. Bank of America lifted their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.87.

Planet Fitness Price Performance

PLNT stock opened at $82.39 on Friday. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $83.98. The business has a 50-day moving average price of $77.85 and a 200 day moving average price of $69.19. The company has a market capitalization of $7.27 billion, a P/E ratio of 47.35, a PEG ratio of 2.72 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $300.94 million for the quarter, compared to analyst estimates of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. Planet Fitness’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. On average, analysts anticipate that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

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.