Retirement Systems of Alabama reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 53.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 107,289 shares of the company’s stock after selling 124,428 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Planet Fitness worth $6,720,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in PLNT. Kennedy Capital Management LLC grew its stake in shares of Planet Fitness by 3.5% in the 3rd quarter. Kennedy Capital Management LLC now owns 118,130 shares of the company’s stock worth $5,810,000 after buying an additional 4,016 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Planet Fitness in the 3rd quarter worth about $979,000. Diversified Trust Co lifted its holdings in shares of Planet Fitness by 27.4% in the 3rd quarter. Diversified Trust Co now owns 19,597 shares of the company’s stock worth $964,000 after acquiring an additional 4,220 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Planet Fitness in the 3rd quarter worth about $944,000. Finally, American Century Companies Inc. lifted its holdings in shares of Planet Fitness by 66.8% in the 3rd quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock worth $43,166,000 after acquiring an additional 351,401 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.
Planet Fitness Stock Performance
NYSE:PLNT opened at $73.86 on Friday. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $75.86. The firm has a market cap of $6.51 billion, a P/E ratio of 42.46, a P/E/G ratio of 2.48 and a beta of 1.49. The firm has a 50-day simple moving average of $67.14 and a 200-day simple moving average of $66.67.
Planet Fitness (NYSE:PLNT – Get Free Report) 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. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $249.48 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on PLNT shares. Stifel Nicolaus lowered shares of Planet Fitness from a “buy” rating to a “hold” rating and lowered their target price for the stock from $80.00 to $70.00 in a report on Friday, May 10th. TD Cowen upgraded shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $92.00 in a report on Monday, June 24th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Raymond James lifted their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. upgraded shares of Planet Fitness from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.64.
View Our Latest Analysis on PLNT
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.
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