MetLife Investment Management LLC Buys 3,574 Shares of Planet Fitness, Inc. (NYSE:PLNT)

MetLife Investment Management LLC raised its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,481 shares of the company's stock after purchasing an additional 3,574 shares during the period. MetLife Investment Management LLC owned 0.06% of Planet Fitness worth $4,892,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Corient Private Wealth LLC grew its position in Planet Fitness by 2.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock worth $457,000 after acquiring an additional 94 shares in the last quarter. Cetera Trust Company N.A raised its position in Planet Fitness by 5.2% during the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company's stock valued at $268,000 after purchasing an additional 135 shares in the last quarter. UMB Bank n.a. lifted its stake in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after purchasing an additional 157 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Planet Fitness by 1.3% in the 4th quarter. Truist Financial Corp now owns 12,632 shares of the company's stock worth $1,249,000 after purchasing an additional 161 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Planet Fitness by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock valued at $207,000 after purchasing an additional 192 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLNT shares. Stifel Nicolaus dropped their target price on Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Macquarie cut their price objective on shares of Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Roth Mkm reiterated a "buy" rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Royal Bank of Canada restated an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a research report on Monday, February 24th. Finally, BMO Capital Markets raised their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.72.

Planet Fitness Stock Up 0.4 %

Shares of NYSE:PLNT traded up $0.35 during trading on Monday, hitting $96.15. The stock had a trading volume of 1,047,868 shares, compared to its average volume of 1,415,974. Planet Fitness, Inc. has a 12 month low of $58.51 and a 12 month high of $110.00. The company has a market capitalization of $8.14 billion, a PE ratio of 51.69, a PEG ratio of 2.45 and a beta of 1.39. The firm's fifty day moving average is $95.85 and its 200 day moving average is $96.70.

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

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.