M&T Bank Corp Sells 649 Shares of Planet Fitness, Inc. (NYSE:PLNT)

M&T Bank Corp lowered its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 13.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,334 shares of the company’s stock after selling 649 shares during the period. M&T Bank Corp’s holdings in Planet Fitness were worth $419,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PLNT. First Horizon Advisors Inc. lifted its stake in shares of Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock worth $36,000 after buying an additional 242 shares in the last quarter. CoreCap Advisors LLC lifted its stake in shares of Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock worth $48,000 after buying an additional 450 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock worth $50,000 after buying an additional 387 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Planet Fitness in the fourth quarter worth approximately $51,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock worth $53,000 after buying an additional 490 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Macquarie reiterated a “neutral” rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. BMO Capital Markets boosted their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley boosted their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a report on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.63.

Planet Fitness Trading Up 0.0%

Shares of PLNT stock opened at $109.57 on Thursday. Planet Fitness, Inc. has a 12 month low of $68.75 and a 12 month high of $113.15. The stock has a market cap of $9.22 billion, a P/E ratio of 51.68, a P/E/G ratio of 2.43 and a beta of 1.33. The company has a 50 day simple moving average of $104.51 and a two-hundred day simple moving average of $100.99.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The firm had revenue of $276.66 million during the quarter, compared to the consensus estimate of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 earnings per share. As a group, equities analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current 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.