Arizona State Retirement System Grows Position in Planet Fitness, Inc. (NYSE:PLNT)

Arizona State Retirement System boosted its position in Planet Fitness, Inc. (NYSE:PLNT) by 3.8% in the second quarter, Holdings Channel.com reports. The firm owned 24,383 shares of the company’s stock after buying an additional 903 shares during the quarter. Arizona State Retirement System’s holdings in Planet Fitness were worth $1,794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Fidelis Capital Partners LLC bought a new stake in Planet Fitness during the first quarter worth about $27,000. GAMMA Investing LLC boosted its position in shares of Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC grew its stake in shares of Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after buying an additional 153 shares during the last quarter. Dnca Finance bought a new position in Planet Fitness during the 2nd quarter valued at approximately $82,000. Finally, Quadrant Capital Group LLC increased its position in Planet Fitness by 169.6% during the 4th quarter. Quadrant Capital Group LLC now owns 1,181 shares of the company’s stock valued at $86,000 after buying an additional 743 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

PLNT stock opened at $81.24 on Thursday. The company has a market cap of $6.92 billion, a P/E ratio of 46.69, a price-to-earnings-growth ratio of 2.73 and a beta of 1.49. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $83.36. The stock’s fifty day moving average price is $77.51 and its 200-day moving average price is $68.96.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same period last year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts expect that Planet Fitness, Inc. will post 2.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PLNT shares. Robert W. Baird reissued an “outperform” rating and issued a $92.00 target price on shares of Planet Fitness in a research note on Monday, August 26th. Royal Bank of Canada raised their price objective on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a research report on Thursday, September 5th. Finally, DA Davidson restated a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.87.

Insider Activity at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the transaction, the chief accounting officer now directly owns 6,778 shares in the company, valued at $524,549.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.94% of the stock is currently owned by company insiders.

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.