Prudential Financial Inc. bought a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,940 shares of the company’s stock, valued at approximately $214,000.
Several other large investors also recently added to or reduced their stakes in PLNT. BlackRock Inc. increased its position in shares of Planet Fitness by 108.4% in the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after acquiring an additional 2,496,984 shares during the last quarter. Wasatch Advisors Inc. bought a new position in Planet Fitness during the second quarter worth about $41,580,000. Junto Capital Management LP bought a new position in Planet Fitness during the second quarter worth about $37,227,000. DSAM Partners London Ltd bought a new position in Planet Fitness during the second quarter worth about $36,383,000. Finally, Vanguard Group Inc. grew its holdings in Planet Fitness by 30.2% during the second quarter. Vanguard Group Inc. now owns 6,481,876 shares of the company’s stock worth $151,286,000 after purchasing an additional 1,504,593 shares during the period.
Shares of Planet Fitness, Inc. (PLNT) traded down $0.39 during trading hours on Wednesday, hitting $31.12. The stock had a trading volume of 652,700 shares, compared to its average volume of 1,206,162. Planet Fitness, Inc. has a 12 month low of $18.32 and a 12 month high of $32.92. The company has a market capitalization of $3,099.42, a PE ratio of 39.39, a PEG ratio of 2.43 and a beta of 1.00. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of -5.00.
A number of research firms recently commented on PLNT. Zacks Investment Research cut Planet Fitness from a “buy” rating to a “hold” rating in a report on Wednesday. DA Davidson began coverage on Planet Fitness in a report on Monday, November 20th. They set a “buy” rating for the company. Cowen reiterated a “buy” rating and set a $30.00 price target on shares of Planet Fitness in a report on Friday, November 10th. Jefferies Group reiterated a “buy” rating and set a $33.00 price target on shares of Planet Fitness in a report on Friday, November 10th. Finally, Imperial Capital lifted their price target on Planet Fitness from $28.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $29.60.
In other news, CAO Richard L. Moore sold 9,200 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $27.02, for a total transaction of $248,584.00. Following the completion of the sale, the chief accounting officer now owns 9,200 shares in the company, valued at $248,584. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher Rondeau sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $27.04, for a total value of $27,040.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 888,984 shares of company stock valued at $26,618,767. Corporate insiders own 19.87% of the company’s stock.
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Planet Fitness Profile
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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