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

New York Life Investment Management LLC lowered its stake in Planet Fitness, Inc. (NYSE:PLNT) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,441 shares of the company’s stock after selling 1,161 shares during the period. New York Life Investment Management LLC’s holdings in Planet Fitness were worth $933,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Walter Public Investments Inc. increased its holdings in shares of Planet Fitness by 0.6% in the fourth quarter. Walter Public Investments Inc. now owns 163,673 shares of the company’s stock valued at $16,182,000 after purchasing an additional 964 shares during the period. Concurrent Investment Advisors LLC acquired a new position in shares of Planet Fitness in the fourth quarter valued at approximately $227,000. Fortis Group Advisors LLC acquired a new position in shares of Planet Fitness in the fourth quarter valued at approximately $316,000. Truist Financial Corp increased its holdings in shares of Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock valued at $1,249,000 after purchasing an additional 161 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of Planet Fitness in the fourth quarter valued at approximately $255,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analysts Set New Price Targets

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

Planet Fitness Stock Up 0.3 %

NYSE PLNT opened at $92.84 on Tuesday. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. The business has a fifty day moving average of $102.00 and a 200-day moving average of $92.59.

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

Planet Fitness Company 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.