Allianz Asset Management GmbH Sells 321,407 Shares of Planet Fitness, Inc. (PLNT)

Allianz Asset Management GmbH decreased its position in Planet Fitness, Inc. (NYSE:PLNT) by 48.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 338,237 shares of the company’s stock after selling 321,407 shares during the period. Allianz Asset Management GmbH owned approximately 0.34% of Planet Fitness worth $9,126,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of Planet Fitness by 1,196.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 243,061 shares of the company’s stock valued at $5,673,000 after buying an additional 224,311 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Planet Fitness by 26.8% in the 2nd quarter. Federated Investors Inc. PA now owns 270,000 shares of the company’s stock valued at $6,302,000 after buying an additional 57,000 shares during the period. BlackRock Inc. grew its holdings in shares of Planet Fitness by 108.4% in the 2nd quarter. BlackRock Inc. now owns 4,799,995 shares of the company’s stock valued at $112,033,000 after buying an additional 2,496,984 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Planet Fitness by 7.7% in the 2nd quarter. Principal Financial Group Inc. now owns 851,131 shares of the company’s stock valued at $19,866,000 after buying an additional 60,939 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Planet Fitness by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 327,736 shares of the company’s stock valued at $7,649,000 after buying an additional 46,554 shares during the period.

Planet Fitness, Inc. (NYSE PLNT) opened at $33.01 on Friday. The firm has a market cap of $3,246.96, a price-to-earnings ratio of 41.26, a P/E/G ratio of 2.54 and a beta of 1.00. The company has a debt-to-equity ratio of -5.00, a current ratio of 1.57 and a quick ratio of 1.56. Planet Fitness, Inc. has a one year low of $18.32 and a one year high of $33.04.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, November 7th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $97.50 million during the quarter, compared to analyst estimates of $93.55 million. Planet Fitness had a net margin of 11.44% and a negative return on equity of 44.91%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. analysts predict that Planet Fitness, Inc. will post 0.82 earnings per share for the current year.

In related news, CEO Christopher Rondeau sold 20,000 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $25.87, for a total value of $517,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dorvin D. Lively sold 144,557 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $31.80, for a total transaction of $4,596,912.60. Following the completion of the transaction, the chief financial officer now directly owns 38,674 shares of the company’s stock, valued at $1,229,833.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 994,427 shares of company stock valued at $29,940,222. Company insiders own 19.87% of the company’s stock.

PLNT has been the subject of several research analyst reports. Cowen reissued a “buy” rating and issued a $30.00 price target on shares of Planet Fitness in a report on Friday, November 10th. Jefferies Group reissued a “buy” rating and issued a $33.00 price target on shares of Planet Fitness in a report on Friday, November 10th. BidaskClub raised shares of Planet Fitness from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Roth Capital boosted their price target on shares of Planet Fitness from $23.00 to $27.00 and gave the company a “buy” rating in a report on Monday, August 21st. Finally, Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, October 11th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Planet Fitness presently has an average rating of “Buy” and an average target price of $29.60.

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Planet Fitness Company 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.

Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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