Arizona State Retirement System Lowers Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Arizona State Retirement System decreased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,546 shares of the company’s stock after selling 658 shares during the quarter. Arizona State Retirement System’s holdings in Planet Fitness were worth $2,427,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the last quarter. R Squared Ltd purchased a new position in Planet Fitness during the fourth quarter valued at $39,000. Beaumont Financial Advisors LLC purchased a new position in Planet Fitness during the fourth quarter valued at $202,000. GAMMA Investing LLC raised its stake in Planet Fitness by 10.1% during the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock valued at $207,000 after buying an additional 192 shares during the last quarter. Finally, Greenleaf Trust bought a new stake in shares of Planet Fitness in the 4th quarter worth $210,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PLNT. Roth Mkm reissued a “buy” rating and issued a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $105.00 target price on shares of Planet Fitness in a report on Thursday, February 27th. DA Davidson reissued a “neutral” rating and issued a $87.00 target price on shares of Planet Fitness in a report on Tuesday, January 21st. Piper Sandler lifted their target price on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Planet Fitness Stock Performance

NYSE PLNT opened at $93.71 on Tuesday. The company has a market capitalization of $7.93 billion, a PE ratio of 50.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54. The business’s fifty day moving average is $101.63 and its 200 day moving average is $93.06. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the previous year, the business earned $0.60 earnings per share. Planet Fitness’s quarterly revenue was up 19.4% compared to the same quarter last year. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.