Louisiana State Employees Retirement System acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 24,000 shares of the company’s stock, valued at approximately $1,752,000.
A number of other large investors have also recently made changes to their positions in PLNT. PNC Financial Services Group Inc. lifted its position in shares of Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after purchasing an additional 157 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after purchasing an additional 1,635 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Planet Fitness during the first quarter valued at about $357,000. BlackRock Inc. lifted its position in shares of Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after purchasing an additional 1,852,867 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Planet Fitness during the first quarter valued at about $919,000. 95.53% of the stock is owned by institutional investors.
Planet Fitness Stock Down 1.2 %
PLNT opened at $58.65 on Friday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.93 and a beta of 1.39. The firm has a 50-day moving average price of $63.00 and a 200-day moving average price of $64.18. Planet Fitness, Inc. has a twelve month low of $44.13 and a twelve month high of $84.48.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $285.10 million during the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts recently weighed in on PLNT shares. Royal Bank of Canada raised their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Stifel Nicolaus decreased their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Piper Sandler raised their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, January 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $71.00.
Check Out Our Latest Analysis on PLNT
Planet Fitness Company 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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