Dorvin D. Lively Sells 144,557 Shares of Planet Fitness, Inc. (PLNT) Stock
Planet Fitness, Inc. (NYSE:PLNT) CFO Dorvin D. Lively sold 144,557 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $31.80, for a total transaction of $4,596,912.60. Following the completion of the sale, the chief financial officer now directly owns 38,674 shares in the company, valued at $1,229,833.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Planet Fitness, Inc. (NYSE PLNT) opened at $31.83 on Thursday. The stock has a market cap of $3,099.42, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.43 and a beta of 1.00. Planet Fitness, Inc. has a 12 month low of $18.32 and a 12 month high of $32.92. The company has a debt-to-equity ratio of -5.00, a quick ratio of 1.56 and a current ratio of 1.57.
Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.03. The company had revenue of $97.50 million for the quarter, compared to the consensus estimate of $93.55 million. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. analysts predict that Planet Fitness, Inc. will post 0.82 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. raised its holdings in Planet Fitness by 15.9% during the second quarter. Alliancebernstein L.P. now owns 6,892,227 shares of the company’s stock worth $160,865,000 after buying an additional 943,921 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Planet Fitness by 15.8% during the third quarter. Bank of New York Mellon Corp now owns 6,611,176 shares of the company’s stock worth $178,370,000 after buying an additional 902,240 shares during the last quarter. Vanguard Group Inc. raised 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 buying an additional 1,504,593 shares during the last quarter. BlackRock Inc. raised its holdings in Planet Fitness by 108.4% during the second quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock worth $112,033,000 after buying an additional 2,496,984 shares during the last quarter. Finally, Investec Asset Management LTD acquired a new position in Planet Fitness during the third quarter worth $115,312,000.
PLNT has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, October 26th. Bank of America upped their price objective on shares of Planet Fitness from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Jefferies Group reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Planet Fitness in a research note on Thursday, October 19th. BidaskClub lowered shares of Planet Fitness from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, DA Davidson initiated coverage on shares of Planet Fitness in a research note on Monday, November 20th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Planet Fitness has a consensus rating of “Buy” and an average target price of $29.60.
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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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