The Manufacturers Life Insurance Company Lowers Holdings in Planet Fitness, Inc. (NYSE:PLNT)

The Manufacturers Life Insurance Company reduced its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,067 shares of the company's stock after selling 2,574 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Planet Fitness worth $6,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock worth $207,000 after purchasing an additional 192 shares during the period. Everence Capital Management Inc. purchased a new position in shares of Planet Fitness during the 4th quarter valued at about $240,000. Nordea Investment Management AB grew its stake in shares of Planet Fitness by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 183,061 shares of the company's stock valued at $18,205,000 after acquiring an additional 8,600 shares during the period. Fulton Bank N.A. increased its holdings in Planet Fitness by 71.9% in the 4th quarter. Fulton Bank N.A. now owns 4,429 shares of the company's stock worth $438,000 after acquiring an additional 1,853 shares in the last quarter. Finally, Accurate Wealth Management LLC raised its stake in Planet Fitness by 28.1% during the 4th quarter. Accurate Wealth Management LLC now owns 10,018 shares of the company's stock worth $1,016,000 after acquiring an additional 2,199 shares during the period. Institutional investors own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

PLNT has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Canaccord Genuity Group started coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. Finally, Guggenheim upped their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.00.

Planet Fitness Price Performance

Shares of PLNT traded up $0.74 during midday trading on Monday, hitting $93.55. The stock had a trading volume of 328,147 shares, compared to its average volume of 1,402,882. The stock's 50 day moving average is $96.30 and its 200 day moving average is $97.88. The firm has a market cap of $7.92 billion, a PE ratio of 50.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a 1 year low of $60.56 and a 1 year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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 107.97% and a net margin of 14.23%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. As a group, equities research analysts expect that Planet Fitness, Inc. will post 2.51 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.