Mutual of America Capital Management LLC Sells 795 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Mutual of America Capital Management LLC cut its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,113 shares of the company’s stock after selling 795 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Planet Fitness worth $3,688,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLNT. LRI Investments LLC boosted its holdings in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Planet Fitness by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after purchasing an additional 174 shares during the period. Teacher Retirement System of Texas lifted its position in Planet Fitness by 2.8% during the fourth quarter. Teacher Retirement System of Texas now owns 6,764 shares of the company’s stock valued at $494,000 after purchasing an additional 182 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Planet Fitness by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock worth $1,825,000 after purchasing an additional 200 shares during the last quarter. Finally, Diversified Trust Co grew its position in Planet Fitness by 1.5% in the 1st quarter. Diversified Trust Co now owns 20,564 shares of the company’s stock worth $1,288,000 after purchasing an additional 308 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Insider Activity at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at approximately $524,549.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.94% of the stock is owned by corporate insiders.

Planet Fitness Price Performance

Shares of PLNT stock opened at $84.34 on Monday. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $85.08. The company’s fifty day moving average price is $78.85 and its 200-day moving average price is $69.99. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 2.77 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same period last year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Planet Fitness, Inc. will post 2.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Bank of America raised their target price on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. BMO Capital Markets reaffirmed an “outperform” rating and set a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Robert W. Baird reissued an “outperform” rating and issued a $92.00 price objective on shares of Planet Fitness in a report on Monday, August 26th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a report on Friday, June 14th. Three equities 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.93.

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.