Richard L. Moore Sells 1,640 Shares of Planet Fitness, Inc. (PLNT) Stock
Planet Fitness, Inc. (NYSE:PLNT) CAO Richard L. Moore sold 1,640 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $27.00, for a total value of $44,280.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,640 shares of the company’s stock, valued at approximately $44,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Planet Fitness, Inc. (PLNT) traded up $0.31 during trading hours on Friday, reaching $26.82. 1,334,260 shares of the company’s stock were exchanged, compared to its average volume of 654,113. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 34.08, a P/E/G ratio of 1.86 and a beta of 0.84. The company has a current ratio of 1.29, a quick ratio of 1.28 and a debt-to-equity ratio of -4.46.
Planet Fitness (NYSE:PLNT) last released its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $107.31 million during the quarter, compared to the consensus estimate of $101.99 million. Planet Fitness had a net margin of 8.77% and a negative return on equity of 57.01%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 EPS. analysts forecast that Planet Fitness, Inc. will post 0.78 earnings per share for the current fiscal year.
PLNT has been the subject of several recent research reports. BidaskClub downgraded Planet Fitness from a “hold” rating to a “sell” rating in a research note on Sunday, July 9th. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, October 11th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Planet Fitness in a research note on Thursday, October 19th. Finally, Imperial Capital increased their target price on shares of Planet Fitness from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $28.00.
Several hedge funds have recently made changes to their positions in PLNT. Oppenheimer Asset Management Inc. acquired a new stake in shares of Planet Fitness during the 1st quarter worth approximately $136,000. D.A. Davidson & CO. acquired a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $145,000. Ameritas Investment Partners Inc. grew its position in shares of 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 buying an additional 5,189 shares during the period. Fortaleza Asset Management Inc. grew its position in shares of Planet Fitness by 57.9% during the 2nd quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after buying an additional 2,870 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Planet Fitness during the 3rd quarter worth approximately $214,000.
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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