MML Investors Services LLC Sells 3,267 Shares of Planet Fitness, Inc. (NYSE:PLNT)

MML Investors Services LLC cut its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,959 shares of the company's stock after selling 3,267 shares during the quarter. MML Investors Services LLC's holdings in Planet Fitness were worth $1,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Planet Fitness during the fourth quarter valued at $11,963,000. Jump Financial LLC bought a new position in shares of Planet Fitness in the 4th quarter valued at about $965,000. Tidal Investments LLC grew its position in shares of Planet Fitness by 132.5% during the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock worth $2,352,000 after buying an additional 16,503 shares during the period. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Planet Fitness during the fourth quarter worth approximately $3,378,000. Finally, AMJ Financial Wealth Management acquired a new position in Planet Fitness in the fourth quarter valued at approximately $495,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Performance

Planet Fitness stock traded up $4.38 during mid-day trading on Friday, reaching $99.15. The company's stock had a trading volume of 1,129,479 shares, compared to its average volume of 1,410,951. The business's 50 day simple moving average is $95.74 and its 200 day simple moving average is $97.11. Planet Fitness, Inc. has a 12 month low of $59.16 and a 12 month high of $110.00. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 53.31, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. Planet Fitness's quarterly revenue was up 19.4% on a year-over-year basis. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on PLNT. Stifel Nicolaus dropped their target price on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Piper Sandler upped their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a report on Monday, January 6th. DA Davidson restated a "neutral" rating and set a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price target on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Finally, Guggenheim increased their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $101.72.

About Planet Fitness

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.