The California State Teachers Retirement System reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT – free report ) by 4.9% during the fourth quarter, according to the latest Form 13F filing with the SEC. The fund now holds 89,473 shares of the company’s stock after selling 4,631 shares during the period. The California State Teachers Retirement System held 0.10% of Planet Fitness, valued at $6,532,000, as of the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced shares of the company. American Century Companies increased its stake in Planet Fitness by 66.8% in the third quarter. American Century Companies now owns 877,723 shares of the company’s stock, valued at $43,166,000, after purchasing an additional 351,401 shares in the last quarter. Oak Thistle LLC acquired a new position in Planet Fitness in the fourth quarter, valued at $389,000. Dimensional Fund Advisors LP increased its stake in Planet Fitness by 17.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock, valued at $65,549,000, after purchasing an additional 133,541 shares in the last quarter. Graham Capital Management LP acquired a new position in Planet Fitness shares during the third quarter worth $944,000. Finally, Pacer Advisors increased its holdings in Planet Fitness by 80.4% during the fourth quarter. Pacer Advisors now owns 12,833 shares of the company’s stock, valued at $937,000, after purchasing an additional 5,719 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Wall Street analysts predict growth
PLNT has been the topic of discussion in recent analyst reports. Raymond James increased their price target on Planet Fitness from $75.00 to $80.00 and gave the company a “strong buy” rating in a research note on Friday, May 10th. Robert W. Baird increased their price target on Planet Fitness from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Morgan Stanley reaffirmed their “overweight” rating on Planet Fitness and set a $79.00 price target for the company in a research note on Monday, April 1st. DA Davidson reaffirmed their “neutral” rating on Planet Fitness and set a $62.00 price target for the company in a research note on Thursday, May 9th. Finally, Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and reduced their price target for the company from $80.00 to $70.00 in a research note on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating, and one has given a strong buy rating. According to MarketBeat data, the company currently has a “moderate buy” consensus rating, with an average price target of $75.00.
See our latest analysis for Planet Fitness
Planet Fitness Price Performance
Shares of NYSE PLNT opened trading at $71.24 on Tuesday. The stock’s 50-day moving average is $62.68 and its 200-day moving average is $66.00. Planet Fitness, Inc.’s one-year low is $44.13 and its one-year high is $75.86. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 40.40, a price-to-earnings growth ratio of 2.29 and a beta of 1.43.
Planet Fitness (NYSE:PLNT – get free report ) announced its quarterly earnings on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a negative return on equity of -140.14%, and a net margin of 13.66%. The company had revenue of $248 million for the quarter, beating the consensus estimate of $249.48 million. Year-over-year earnings per share were $0.41. Planet Fitness’s revenue grew 11.6% year-over-year. Equity research analysts expect Planet Fitness to post earnings per share of $2.42 for the current fiscal year.
Planet Fitness Profile
(Free report)
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 and Equipment. The company has franchise operations in the United States, Puerto Rico, Canada, Panama, Mexico and Australia.
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