New York State Teachers Retirement System Sells 500 Shares of Planet Fitness, Inc. (NYSE:PLNT)

New York State Teachers Retirement System trimmed its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,800 shares of the company’s stock after selling 500 shares during the quarter. New York State Teachers Retirement System’s holdings in Planet Fitness were worth $1,608,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PLNT. LRI Investments LLC raised its position in Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after purchasing an additional 153 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Planet Fitness by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after buying an additional 174 shares during the period. Creative Planning raised its holdings in shares of Planet Fitness by 2.1% during the third quarter. Creative Planning now owns 9,144 shares of the company’s stock valued at $743,000 after acquiring an additional 192 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in Planet Fitness by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock worth $1,825,000 after acquiring an additional 200 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after acquiring an additional 201 shares in the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Stock Performance

NYSE:PLNT opened at $95.30 on Friday. The firm has a market cap of $8.12 billion, a P/E ratio of 52.36, a P/E/G ratio of 2.84 and a beta of 1.49. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $98.59. The firm has a 50-day simple moving average of $81.75 and a two-hundred day simple moving average of $74.78.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PLNT shares. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America raised their target price on Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research note on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. Macquarie reissued a “neutral” rating and set a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research report on Friday. Finally, BMO Capital Markets restated an “outperform” rating and set a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $91.81.

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.