Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,441 shares of the company’s stock after selling 1,161 shares during the quarter. New York Life Investment Management LLC’s holdings in Planet Fitness were worth $933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after purchasing an additional 37,236 shares during the last quarter. Ninety One UK Ltd acquired a new stake in Planet Fitness during the fourth quarter worth about $130,376,000. FMR LLC increased its stake in Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after acquiring an additional 691,761 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Planet Fitness during the fourth quarter worth about $22,289,000. Finally, Artemis Investment Management LLP acquired a new stake in Planet Fitness during the fourth quarter worth about $18,767,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Shares of PLNT opened at $92.84 on Tuesday. The company has a market capitalization of $7.85 billion, a P/E ratio of 49.91, a P/E/G ratio of 2.45 and a beta of 1.53. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $110.00. The stock has a 50-day moving average price of $102.00 and a 200 day moving average price of $92.59.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The firm had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. DA Davidson restated a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Macquarie dropped their price target on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Piper Sandler upped their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Raymond James upped their price target on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.00.

Planet Fitness Profile

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.