MetLife Investment Management LLC Reduces Holdings in Planet Fitness, Inc. (NYSE:PLNT)

MetLife Investment Management LLC trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,907 shares of the company’s stock after selling 2,365 shares during the quarter. MetLife Investment Management LLC’s holdings in Planet Fitness were worth $3,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PLNT. GAMMA Investing LLC increased its stake in Planet Fitness by 478.8% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after purchasing an additional 316 shares during the last quarter. 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 valued at $30,000 after buying an additional 153 shares during the last quarter. Quarry LP raised its stake in Planet Fitness by 174.7% during the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 318 shares during the period. V Square Quantitative Management LLC lifted its holdings in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after acquiring an additional 201 shares during the last quarter. Finally, Dnca Finance acquired a new position in Planet Fitness in the second quarter valued at approximately $82,000. 95.53% of the stock is currently owned by institutional investors.

Insider Transactions at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness 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 transaction, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.94% of the stock is owned by insiders.

Planet Fitness Trading Up 0.0 %

NYSE:PLNT opened at $99.59 on Tuesday. The company has a 50-day moving average of $86.75 and a 200-day moving average of $78.81. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.81. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 53.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.49.

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

Analyst Upgrades and Downgrades

PLNT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Planet Fitness in a research report on Friday, September 27th. They set a “hold” rating and a $71.00 price target on the stock. Robert W. Baird raised their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Bank of America upped their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Finally, DA Davidson upped their target price on shares of Planet Fitness from $70.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.38.

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.