Nippon Life Global Investors Americas Inc. Cuts Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Nippon Life Global Investors Americas Inc. trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,970 shares of the company’s stock after selling 2,640 shares during the quarter. Nippon Life Global Investors Americas Inc. owned 0.05% of Planet Fitness worth $3,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Liberty Wealth Management LLC raised its stake in shares of Planet Fitness by 388.6% during the 3rd quarter. Liberty Wealth Management LLC now owns 342 shares of the company’s stock worth $29,000 after purchasing an additional 272 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth $33,000. Pinnacle Holdings LLC bought a new stake in shares of Planet Fitness during the 3rd quarter worth $30,000. Manchester Capital Management LLC bought a new stake in shares of Planet Fitness during the 3rd quarter worth $35,000. Finally, Global Retirement Partners LLC raised its stake in shares of Planet Fitness by 29.7% during the 4th quarter. Global Retirement Partners LLC now owns 563 shares of the company’s stock worth $51,000 after purchasing an additional 129 shares during the period. 93.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PLNT traded down $2.63 during trading on Friday, reaching $65.19. 1,405,090 shares of the company traded hands, compared to its average volume of 1,080,889. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 101.86, a P/E/G ratio of 2.20 and a beta of 1.16. Planet Fitness, Inc. has a 52-week low of $64.11 and a 52-week high of $99.60. The business’s fifty day moving average is $80.50 and its 200-day moving average is $85.22.

Planet Fitness (NYSE:PLNT – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $186.70 million during the quarter, compared to the consensus estimate of $190.44 million. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, research analysts forecast that Planet Fitness, Inc. will post 1.54 EPS for the current year.

A number of equities research analysts recently issued reports on PLNT shares. Robert W. Baird lowered their price objective on Planet Fitness from $108.00 to $92.00 in a research note on Wednesday, May 11th. DA Davidson lowered their price objective on Planet Fitness from $110.00 to $90.00 in a research note on Friday, May 13th. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research note on Wednesday, May 11th. Zacks Investment Research cut Planet Fitness from a “hold” rating to a “strong sell” rating and set a $70.00 price target on the stock. in a research report on Wednesday, March 2nd. Finally, BMO Capital Markets decreased their price target on Planet Fitness from $96.00 to $88.00 in a research report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Planet Fitness has a consensus rating of “Buy” and a consensus price target of $96.50.

About Planet Fitness (Get Rating)

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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