King Luther Capital Management Corp Sells 14,840 Shares of Planet Fitness Inc (PLNT)

King Luther Capital Management Corp decreased its holdings in Planet Fitness Inc (NYSE:PLNT) by 18.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,600 shares of the company’s stock after selling 14,840 shares during the quarter. King Luther Capital Management Corp owned 0.06% of Planet Fitness worth $3,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. American International Group Inc. boosted its stake in shares of Planet Fitness by 1.8% in the third quarter. American International Group Inc. now owns 58,694 shares of the company’s stock valued at $3,171,000 after purchasing an additional 1,059 shares during the period. Strs Ohio boosted its stake in shares of Planet Fitness by 11.6% in the third quarter. Strs Ohio now owns 12,500 shares of the company’s stock valued at $675,000 after purchasing an additional 1,300 shares during the period. NumerixS Investment Technologies Inc boosted its stake in shares of Planet Fitness by 47.4% in the second quarter. NumerixS Investment Technologies Inc now owns 5,306 shares of the company’s stock valued at $230,000 after purchasing an additional 1,706 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Planet Fitness by 15.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,800 shares of the company’s stock valued at $692,000 after purchasing an additional 1,725 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Planet Fitness by 7.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 28,462 shares of the company’s stock valued at $1,251,000 after purchasing an additional 1,854 shares during the period. 90.80% of the stock is owned by institutional investors and hedge funds.

Shares of Planet Fitness stock opened at $53.46 on Friday. Planet Fitness Inc has a 52-week low of $28.98 and a 52-week high of $58.50. The company has a market capitalization of $5.49 billion, a P/E ratio of 63.64, a PEG ratio of 2.39 and a beta of 0.77.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Planet Fitness had a net margin of 11.22% and a negative return on equity of 95.97%. The company had revenue of $136.66 million during the quarter, compared to the consensus estimate of $126.10 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s quarterly revenue was up 40.2% on a year-over-year basis. As a group, equities research analysts forecast that Planet Fitness Inc will post 1.2 EPS for the current fiscal year.

In other Planet Fitness news, CEO Christopher Rondeau sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $50.81, for a total transaction of $4,064,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 19.87% of the stock is currently owned by company insiders.

A number of research analysts recently issued reports on PLNT shares. Roth Capital set a $55.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Saturday, August 11th. ValuEngine upgraded shares of Planet Fitness from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 14th. Guggenheim lifted their price target on shares of Planet Fitness from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. DA Davidson set a $58.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Tuesday, October 16th. Finally, Imperial Capital lifted their price target on shares of Planet Fitness from $45.00 to $55.00 and gave the stock an “inline” rating in a research note on Friday, November 9th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.07.

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Planet Fitness Company 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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