State of New Jersey Common Pension Fund D lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,080 shares of the company’s stock after selling 1,606 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Planet Fitness were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in shares of Planet Fitness by 4.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,235 shares of the company’s stock worth $313,000 after acquiring an additional 126 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Planet Fitness by 7.4% during the 1st quarter. GAMMA Investing LLC now owns 2,245 shares of the company’s stock worth $217,000 after acquiring an additional 155 shares during the last quarter. Xponance Inc. raised its position in shares of Planet Fitness by 1.1% during the 1st quarter. Xponance Inc. now owns 13,767 shares of the company’s stock valued at $1,330,000 after purchasing an additional 156 shares during the period. State of Michigan Retirement System raised its position in shares of Planet Fitness by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 20,100 shares of the company’s stock valued at $1,942,000 after purchasing an additional 200 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Planet Fitness by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the company’s stock valued at $2,280,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Wall Street Analyst Weigh In
PLNT has been the topic of several recent analyst reports. Morgan Stanley raised their price objective on shares of Planet Fitness from $111.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a “buy” rating in a research report on Thursday, June 12th. Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Macquarie reissued a “neutral” rating and issued a $95.00 price objective on shares of Planet Fitness in a research report on Tuesday, May 13th. Finally, Guggenheim reissued a “buy” rating and issued a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.38.
Planet Fitness Stock Performance
Shares of PLNT opened at $107.41 on Thursday. The company has a 50 day moving average price of $108.15 and a 200-day moving average price of $101.94. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $114.47. The stock has a market capitalization of $9.05 billion, a PE ratio of 47.74, a PEG ratio of 2.41 and a beta of 1.40.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The firm had revenue of $340.88 million during the quarter, compared to analysts’ expectations of $329.59 million. During the same quarter in the prior year, the company earned $0.71 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. Equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current 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.
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