Bridgewater Associates LP Sells 13,630 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Bridgewater Associates LP trimmed its stake in Planet Fitness, Inc. (NYSE:PLNT) by 7.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,701 shares of the company’s stock after selling 13,630 shares during the period. Bridgewater Associates LP owned 0.21% of Planet Fitness worth $14,189,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. William Blair Investment Management LLC bought a new position in shares of Planet Fitness in the second quarter worth about $166,978,000. Anomaly Capital Management LP purchased a new stake in Planet Fitness in the 2nd quarter worth approximately $106,795,000. Point72 Asset Management L.P. lifted its holdings in Planet Fitness by 169.8% during the second quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock valued at $96,985,000 after purchasing an additional 829,509 shares in the last quarter. FMR LLC lifted its holdings in Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares in the last quarter. Finally, Dorsal Capital Management LP boosted its position in shares of Planet Fitness by 7.7% in the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock worth $213,940,000 after purchasing an additional 207,193 shares during the period. 95.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PLNT shares. Stifel Nicolaus lifted their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Bank of America boosted their price target on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.81.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $101.02 on Thursday. The company has a market cap of $8.55 billion, a P/E ratio of 54.31, a PEG ratio of 3.36 and a beta of 1.49. The firm has a 50-day simple moving average of $85.75 and a two-hundred day simple moving average of $78.09. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $102.81.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. During the same quarter in the previous year, the business earned $0.59 EPS. Planet Fitness’s revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Insider Activity at Planet Fitness

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.94% of the stock is currently owned by company insiders.

Planet Fitness Profile

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.