Mutual of America Capital Management LLC Trims Stake in Planet Fitness, Inc. (NYSE:PLNT)

Mutual of America Capital Management LLC lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 4.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 52,760 shares of the company’s stock after selling 2,185 shares during the period. Mutual of America Capital Management LLC’s holdings in Planet Fitness were worth $3,851,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after buying an additional 1,852,867 shares during the period. Cadian Capital Management LP increased its position in shares of Planet Fitness by 164.7% during the third quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock valued at $198,860,000 after buying an additional 2,516,007 shares during the period. Bank of New York Mellon Corp increased its position in shares of Planet Fitness by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 2,659,856 shares of the company’s stock valued at $130,812,000 after buying an additional 12,139 shares during the period. State Street Corp increased its position in shares of Planet Fitness by 78.4% during the second quarter. State Street Corp now owns 2,295,657 shares of the company’s stock valued at $154,819,000 after buying an additional 1,008,875 shares during the period. Finally, Bares Capital Management Inc. increased its position in shares of Planet Fitness by 2.4% during the fourth quarter. Bares Capital Management Inc. now owns 2,063,152 shares of the company’s stock valued at $162,576,000 after buying an additional 48,955 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLNT. JPMorgan Chase & Co. cut their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Stifel Nicolaus cut their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. Royal Bank of Canada upped their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. DA Davidson restated a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Monday, February 5th. Finally, StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $60.79 on Wednesday. The firm’s 50 day moving average price is $63.43 and its 200-day moving average price is $64.25. The company has a market cap of $5.36 billion, a PE ratio of 37.52, a P/E/G ratio of 1.26 and a beta of 1.39. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $84.48.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, analysts forecast that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal 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.