American Century Companies Inc. Has $61.12 Million Stake in Planet Fitness Inc (PLNT)

American Century Companies Inc. decreased its stake in Planet Fitness Inc (NYSE:PLNT) by 41.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,139,916 shares of the company’s stock after selling 802,361 shares during the period. American Century Companies Inc. owned approximately 1.17% of Planet Fitness worth $61,122,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PLNT. Vanguard Group Inc. lifted its holdings in shares of Planet Fitness by 3.4% during the third quarter. Vanguard Group Inc. now owns 8,597,408 shares of the company’s stock valued at $464,518,000 after acquiring an additional 280,726 shares during the period. Vanguard Group Inc lifted its holdings in shares of Planet Fitness by 3.4% during the third quarter. Vanguard Group Inc now owns 8,597,408 shares of the company’s stock valued at $464,518,000 after acquiring an additional 280,726 shares during the period. FMR LLC lifted its holdings in shares of Planet Fitness by 57.7% during the fourth quarter. FMR LLC now owns 7,135,122 shares of the company’s stock valued at $382,585,000 after acquiring an additional 2,610,693 shares during the period. BlackRock Inc. lifted its holdings in shares of Planet Fitness by 4.3% during the fourth quarter. BlackRock Inc. now owns 6,386,708 shares of the company’s stock valued at $342,456,000 after acquiring an additional 265,922 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Planet Fitness by 10.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 2,283,796 shares of the company’s stock valued at $122,457,000 after acquiring an additional 210,503 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

A number of research analysts have issued reports on the company. Wedbush lifted their price objective on Planet Fitness from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 27th. Roth Capital lifted their price target on Planet Fitness from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. DA Davidson lifted their price target on Planet Fitness to $70.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Zacks Investment Research cut Planet Fitness from a “buy” rating to a “hold” rating in a report on Friday, February 15th. Finally, Jefferies Financial Group raised Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the company from $49.00 to $75.00 in a report on Friday, February 22nd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $59.71.

In other news, CFO Dorvin D. Lively sold 100,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $63.52, for a total transaction of $6,352,000.00. Following the completion of the transaction, the chief financial officer now directly owns 98,883 shares in the company, valued at approximately $6,281,048.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher Rondeau sold 6,000 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $60.53, for a total value of $363,180.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 466,291 shares of company stock valued at $29,813,238. Corporate insiders own 14.52% of the company’s stock.

PLNT stock traded up $0.77 during midday trading on Friday, reaching $76.22. The stock had a trading volume of 837,200 shares, compared to its average volume of 1,376,113. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 62.48, a PEG ratio of 2.56 and a beta of 0.74. Planet Fitness Inc has a twelve month low of $36.72 and a twelve month high of $76.73.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 26th. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.02. The firm had revenue of $174.40 million during the quarter, compared to analyst estimates of $173.76 million. Planet Fitness had a negative return on equity of 67.65% and a net margin of 15.36%. The company’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. On average, analysts expect that Planet Fitness Inc will post 1.54 EPS for the current year.

TRADEMARK VIOLATION WARNING: “American Century Companies Inc. Has $61.12 Million Stake in Planet Fitness Inc (PLNT)” was originally published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this report on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The correct version of this report can be read at https://www.baseballdailydigest.com/news/2019/04/26/planet-fitness-inc-plnt-shares-sold-by-american-century-companies-inc.html.

About Planet Fitness

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.

Further Reading: Bollinger Bands

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

Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.