New York State Common Retirement Fund Raises Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

New York State Common Retirement Fund boosted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 183.4% in the first quarter, Holdings Channel.com reports. The firm owned 127,345 shares of the company’s stock after acquiring an additional 82,415 shares during the period. New York State Common Retirement Fund’s holdings in Planet Fitness were worth $12,303,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth approximately $51,000. Raymond James Financial Inc. acquired a new stake in Planet Fitness in the fourth quarter valued at approximately $2,988,000. Natixis Advisors LLC grew its stake in Planet Fitness by 37.1% in the 4th quarter. Natixis Advisors LLC now owns 14,438 shares of the company’s stock valued at $1,427,000 after buying an additional 3,909 shares during the last quarter. Corient Private Wealth LLC grew its stake in Planet Fitness by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock valued at $457,000 after buying an additional 94 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Planet Fitness by 34.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 26,764 shares of the company’s stock worth $2,646,000 after purchasing an additional 6,894 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLNT has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Guggenheim restated a “buy” rating and set a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. Macquarie reiterated a “neutral” rating and issued a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.63.

Planet Fitness Stock Up 0.6%

Planet Fitness stock opened at $110.23 on Friday. The business has a 50-day simple moving average of $104.77 and a two-hundred day simple moving average of $101.06. The company has a market cap of $9.28 billion, a P/E ratio of 52.00, a P/E/G ratio of 2.43 and a beta of 1.33. Planet Fitness, Inc. has a 52-week low of $68.75 and a 52-week high of $113.15.

Planet Fitness (NYSE:PLNT) last issued 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). Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The firm had revenue of $276.66 million for the quarter, compared to analysts’ expectations of $279.80 million. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. Research analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS 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.