Insider Selling: Planet Fitness, Inc. (PLNT) CEO Sells 20,000 Shares of Stock
Planet Fitness, Inc. (NYSE:PLNT) CEO Christopher Rondeau sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $26.75, for a total value of $535,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Christopher Rondeau also recently made the following trade(s):
- On Wednesday, October 4th, Christopher Rondeau sold 20,000 shares of Planet Fitness stock. The stock was sold at an average price of $26.43, for a total value of $528,600.00.
Shares of Planet Fitness, Inc. (PLNT) remained flat at $26.27 during mid-day trading on Thursday. 796,910 shares of the company’s stock were exchanged. The company’s 50 day moving average is $26.37 and its 200 day moving average is $26.37. Planet Fitness, Inc. has a 12-month low of $19.17 and a 12-month high of $27.22. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 45.29 and a beta of 0.86.
Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.03. The business had revenue of $107.31 million for the quarter, compared to analyst estimates of $101.99 million. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. Planet Fitness’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. Equities analysts expect that Planet Fitness, Inc. will post $0.47 earnings per share for the current fiscal year.
PLNT has been the topic of several recent research reports. BidaskClub downgraded Planet Fitness from a “hold” rating to a “sell” rating in a report on Sunday, July 9th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Friday, August 11th. Jefferies Group LLC reissued a “buy” rating and issued a $29.00 price target on shares of Planet Fitness in a report on Thursday, September 14th. Imperial Capital raised their price target on Planet Fitness from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Tuesday, August 15th. Finally, Roth Capital set a $23.00 price target on Planet Fitness and gave the stock a “buy” rating in a report on Thursday, August 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Planet Fitness has a consensus rating of “Buy” and an average price target of $27.67.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Davidson Kempner Capital Management LP bought a new stake in Planet Fitness during the 2nd quarter worth approximately $16,338,000. Lord Abbett & CO. LLC grew its position in Planet Fitness by 36.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,807,699 shares of the company’s stock worth $65,532,000 after acquiring an additional 742,857 shares during the last quarter. Wasatch Advisors Inc. bought a new stake in Planet Fitness during the 2nd quarter worth approximately $41,580,000. Public Employees Retirement System of Ohio grew its position in Planet Fitness by 2.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,498 shares of the company’s stock worth $2,089,000 after acquiring an additional 2,369 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in Planet Fitness by 234.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after acquiring an additional 5,189 shares during the last quarter.
About Planet Fitness
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 the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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