Mutual of America Capital Management LLC Decreases Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Mutual of America Capital Management LLC lowered its stake in Planet Fitness, Inc. (NYSE:PLNT) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,713 shares of the company’s stock after selling 4,400 shares during the period. Mutual of America Capital Management LLC’s holdings in Planet Fitness were worth $3,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Verdence Capital Advisors LLC lifted its position in Planet Fitness by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock valued at $247,000 after purchasing an additional 132 shares during the last quarter. LRI Investments LLC raised its holdings in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after buying an additional 153 shares during the last quarter. Creative Planning boosted its position in Planet Fitness by 2.1% during the 3rd quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after buying an additional 192 shares during the period. Louisiana State Employees Retirement System increased its position in shares of Planet Fitness by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after acquiring an additional 200 shares during the period. Finally, V Square Quantitative Management LLC increased its position in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after acquiring an additional 201 shares during the period. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLNT. Morgan Stanley increased their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. BMO Capital Markets restated an “outperform” rating and set a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Stifel Nicolaus upped their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Finally, Roth Mkm lifted their target price on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.81.

Insider Transactions at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.94% of the stock is owned by insiders.

Planet Fitness Stock Performance

PLNT stock opened at $99.91 on Friday. The firm has a 50 day moving average price of $84.61 and a 200-day moving average price of $77.08. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $100.63. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 53.71, a PEG ratio of 3.25 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

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.