Planet Fitness Inc (NYSE:PLNT) shares were up 8.8% on Wednesday . The company traded as high as $47.21 and last traded at $50.30, approximately 174,655 shares traded hands during trading. A decline of 96% from the average daily volume of 4,088,271 shares. The stock had previously closed at $46.23.
A number of research analysts recently weighed in on PLNT shares. Robert W. Baird reissued an “outperform” rating and set a $95.00 price target (up from $90.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Wedbush raised their price target on shares of Planet Fitness from $69.00 to $77.00 and gave the company an “in-line” rating in a research report on Wednesday, February 26th. William Blair reissued a “buy” rating on shares of Planet Fitness in a research report on Friday, March 20th. Zacks Investment Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $83.00 price target on the stock. in a research report on Tuesday, January 14th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Planet Fitness in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $81.85.
The firm has a market cap of $4.03 billion, a P/E ratio of 37.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The firm’s 50-day simple moving average is $67.07 and its 200 day simple moving average is $68.68.
In other Planet Fitness news, President Dorvin D. Lively purchased 10,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were bought at an average price of $49.93 per share, with a total value of $499,300.00. Following the completion of the transaction, the president now directly owns 44,007 shares in the company, valued at approximately $2,197,269.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Craig Jeffrey Miller purchased 2,000 shares of the stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $53.18 per share, for a total transaction of $106,360.00. Following the transaction, the insider now owns 7,580 shares of the company’s stock, valued at $403,104.40. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 92,000 shares of company stock worth $5,384,710. Insiders own 14.52% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can raised its position in shares of Planet Fitness by 120.5% in the fourth quarter. Bank of Montreal Can now owns 366 shares of the company’s stock valued at $27,000 after purchasing an additional 200 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Planet Fitness during the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC grew its stake in Planet Fitness by 620.0% during the third quarter. Tower Research Capital LLC TRC now owns 720 shares of the company’s stock valued at $42,000 after acquiring an additional 620 shares in the last quarter. Exane Derivatives purchased a new position in Planet Fitness during the fourth quarter valued at approximately $92,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Planet Fitness during the fourth quarter valued at approximately $206,000. 93.65% of the stock is currently owned by institutional investors.
About Planet Fitness (NYSE:PLNT)
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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