Tocqueville Asset Management L.P. reduced its stake in shares of Planet Fitness Inc (NYSE:PLNT) by 20.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,950 shares of the company’s stock after selling 2,000 shares during the period. Tocqueville Asset Management L.P.’s holdings in Planet Fitness were worth $460,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLNT. Empowered Funds LLC purchased a new position in shares of Planet Fitness during the 2nd quarter worth about $1,075,000. Campbell & CO Investment Adviser LLC purchased a new position in Planet Fitness in the second quarter valued at approximately $277,000. Harbour Capital Advisors LLC purchased a new position in Planet Fitness in the second quarter valued at approximately $279,000. Chicago Capital LLC purchased a new position in Planet Fitness in the second quarter valued at approximately $522,000. Finally, NEXT Financial Group Inc purchased a new position in Planet Fitness in the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 88.97% of the company’s stock.

Shares of NYSE:PLNT opened at $62.71 on Friday. Planet Fitness Inc has a 52-week low of $48.00 and a 52-week high of $81.90. The company has a 50 day moving average of $60.07 and a two-hundred day moving average of $70.61. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 51.40, a price-to-earnings-growth ratio of 1.69 and a beta of 0.63.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Planet Fitness had a net margin of 16.29% and a negative return on equity of 46.45%. The company had revenue of $166.82 million during the quarter, compared to the consensus estimate of $162.26 million. During the same quarter last year, the company earned $0.28 earnings per share. Planet Fitness’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, equities research analysts anticipate that Planet Fitness Inc will post 1.57 EPS for the current year.

PLNT has been the topic of several research reports. Zacks Investment Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating and set a $63.00 price target on the stock. in a report on Wednesday. Roth Capital raised their price target on shares of Planet Fitness from $80.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Berenberg Bank lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and cut their price target for the company from $80.00 to $69.00 in a report on Tuesday, September 3rd. Imperial Capital upgraded shares of Planet Fitness from an “in-line” rating to an “outperform” rating and set a $72.50 price target on the stock in a report on Monday, October 14th. Finally, ValuEngine lowered shares of Planet Fitness from a “hold” rating to a “sell” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $77.35.

Planet Fitness 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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