The Manufacturers Life Insurance Company Trims Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

The Manufacturers Life Insurance Company lessened its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,067 shares of the company’s stock after selling 2,574 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Planet Fitness were worth $6,730,000 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 PLNT. Vanguard Group Inc. grew its holdings in shares of Planet Fitness by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company’s stock worth $794,496,000 after buying an additional 39,928 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock valued at $782,169,000 after acquiring an additional 2,570,826 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Planet Fitness by 1.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company’s stock worth $356,841,000 after purchasing an additional 36,803 shares during the period. Anomaly Capital Management LP boosted its holdings in shares of Planet Fitness by 20.3% during the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company’s stock worth $175,256,000 after purchasing an additional 299,148 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in shares of Planet Fitness in the fourth quarter valued at $130,376,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLNT. JPMorgan Chase & Co. increased their target price on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Macquarie lowered their target price on shares of Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. DA Davidson reaffirmed a “neutral” rating and set a $87.00 price target on shares of Planet Fitness in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Guggenheim increased their target price on Planet Fitness from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.72.

Planet Fitness Price Performance

NYSE PLNT opened at $99.77 on Wednesday. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 53.64, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a 12 month low of $59.16 and a 12 month high of $110.00. The company’s fifty day moving average price is $96.06 and its two-hundred day moving average price is $97.38.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS 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 business had revenue of $340.50 million during the quarter, compared to the consensus estimate of $324.57 million. During the same period last year, the firm earned $0.60 earnings per share. The company’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.