M&T Bank Corp Buys 124 Shares of Planet Fitness, Inc. (NYSE:PLNT)

M&T Bank Corp increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,947 shares of the company’s stock after purchasing an additional 124 shares during the quarter. M&T Bank Corp’s holdings in Planet Fitness were worth $402,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

PLNT has been the subject of several recent research reports. Bank of America upped their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Raymond James upped their price objective on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Macquarie restated a “neutral” rating and set a $99.00 target price (up previously from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Robert W. Baird increased their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Planet Fitness Trading Down 4.3 %

Shares of NYSE PLNT opened at $97.45 on Thursday. The company has a fifty day moving average price of $91.42 and a 200 day moving average price of $82.02. The firm has a market cap of $8.24 billion, a PE ratio of 52.39, a PEG ratio of 3.33 and a beta of 1.53. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.90.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. Equities research analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction 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 sale, the insider now directly owns 19,110 shares in the company, valued at approximately $1,838,382. The trade was a 37.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.94% of the company’s stock.

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.