State Board of Administration of Florida Retirement System lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,400 shares of the company’s stock after acquiring an additional 3,860 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of Planet Fitness worth $5,787,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in PLNT. Allworth Financial LP boosted its stake 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 acquiring an additional 255 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Planet Fitness in the first quarter valued at about $27,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Planet Fitness during the fourth quarter worth about $47,000. Asset Management One Co. Ltd. lifted its holdings 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 purchasing an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Planet Fitness by 24.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after purchasing an additional 197 shares during the period. Institutional investors own 95.53% of the company’s stock.
Planet Fitness Price Performance
Shares of NYSE PLNT opened at $76.50 on Monday. The stock’s fifty day moving average price is $69.89 and its two-hundred day moving average price is $66.75. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 43.97, a P/E/G ratio of 2.57 and a beta of 1.49. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $79.09.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $249.48 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
PLNT has been the topic of a number of research analyst reports. Raymond James boosted their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Morgan Stanley reissued an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a research note on Friday, June 14th. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $80.00 to $70.00 in a report on Friday, May 10th. DA Davidson reissued a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a research report on Friday, June 14th. Finally, Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the company from $62.00 to $100.00 in a research report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.64.
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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.
Further Reading
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