American International Group Inc. Sells 2,323 Shares of Planet Fitness, Inc. (NYSE:PLNT)

American International Group Inc. cut its position in Planet Fitness, Inc. (NYSE:PLNT) by 2.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,438 shares of the company’s stock after selling 2,323 shares during the quarter. American International Group Inc.’s holdings in Planet Fitness were worth $7,105,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Allworth Financial LP boosted its position in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after buying an additional 255 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Planet Fitness during the 1st quarter valued at approximately $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness during the 4th quarter valued at approximately $47,000. Asset Management One Co. Ltd. lifted its position in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after buying an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Planet Fitness by 24.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after buying an additional 197 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PLNT has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research report on Friday, June 14th. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and increased their target price for the company from $68.00 to $78.00 in a research report on Tuesday, May 14th. Robert W. Baird increased their price objective on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Raymond James increased their price objective on Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research note on Friday, May 10th. Finally, Piper Sandler raised their target price on Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.

Planet Fitness Trading Down 0.9 %

Shares of NYSE:PLNT opened at $74.70 on Friday. The business has a 50-day moving average price of $70.67 and a 200 day moving average price of $66.93. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 42.93, a PEG ratio of 2.53 and a beta of 1.49. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $79.09.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. As a group, equities research analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share 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.