Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 4.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,907 shares of the company’s stock after selling 2,365 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Planet Fitness worth $3,729,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Quest Partners LLC grew its stake in shares of Planet Fitness by 126.0% in the third quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after acquiring an additional 5,298 shares in the last quarter. Premier Fund Managers Ltd acquired a new position in Planet Fitness during the 3rd quarter worth $775,000. Qsemble Capital Management LP increased its holdings in Planet Fitness by 100.6% during the 3rd quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock worth $1,703,000 after purchasing an additional 10,518 shares during the period. Banco Santander S.A. acquired a new stake in Planet Fitness in the 3rd quarter valued at about $637,000. Finally, Fifth Third Bancorp boosted its stake in shares of Planet Fitness by 60.2% in the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock valued at $14,122,000 after buying an additional 72,131 shares during the period. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLNT has been the topic of several analyst reports. Raymond James raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Bank of America lifted their price objective 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. Morgan Stanley increased their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Robert W. Baird lifted their price target on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, DA Davidson upped their price objective on Planet Fitness from $70.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday. 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 company’s stock. According to data from MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $93.38.

Insiders Place Their Bets

In other news, insider Jennifer Simmons sold 11,453 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction 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 represents a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.94% of the stock is currently owned by insiders.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $99.59 on Tuesday. The stock has a fifty day moving average price of $86.75 and a 200 day moving average price of $78.81. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.81. The company has a market cap of $8.42 billion, a PE ratio of 53.52, a P/E/G ratio of 3.31 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 7th. The company reported $0.64 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 company had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. During the same quarter last year, the business earned $0.59 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Analysts anticipate 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.