Public Employees Retirement Association of Colorado Has $676,000 Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Public Employees Retirement Association of Colorado lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 4.5% during the second quarter, HoldingsChannel reports. The fund owned 9,187 shares of the company’s stock after selling 435 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Planet Fitness were worth $676,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Planet Fitness by 478.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after buying an additional 316 shares during the last quarter. LRI Investments LLC grew its holdings in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Planet Fitness during the first quarter valued at approximately $27,000. Dnca Finance bought a new stake in Planet Fitness during the second quarter worth $82,000. Finally, Headlands Technologies LLC purchased a new position in Planet Fitness in the first quarter worth $148,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

NYSE:PLNT opened at $82.25 on Thursday. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $85.08. The business’s fifty day moving average is $79.18 and its 200 day moving average is $70.31. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 47.27, a PEG ratio of 2.74 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their target price on Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a report on Friday, June 14th. BMO Capital Markets reiterated an “outperform” rating and issued a $87.00 target price (up from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Piper Sandler raised their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $92.00 price objective on shares of Planet Fitness in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.93.

Insider Buying and Selling at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction 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 owns 6,778 shares of the company’s stock, valued at $524,549.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.94% of the company’s stock.

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.