Arizona State Retirement System Buys 127 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Arizona State Retirement System raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNTGet Rating) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,529 shares of the company’s stock after purchasing an additional 127 shares during the quarter. Arizona State Retirement System’s holdings in Planet Fitness were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Artemis Investment Management LLP lifted its holdings in shares of Planet Fitness by 225.3% in the 4th quarter. Artemis Investment Management LLP now owns 1,599,934 shares of the company’s stock worth $144,765,000 after acquiring an additional 1,108,100 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Planet Fitness by 79.2% in the 4th quarter. Eagle Asset Management Inc. now owns 1,914,220 shares of the company’s stock worth $174,825,000 after acquiring an additional 846,128 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Planet Fitness by 37.0% in the 4th quarter. Alliancebernstein L.P. now owns 2,771,855 shares of the company’s stock worth $251,075,000 after acquiring an additional 748,189 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Planet Fitness by 278.5% in the 4th quarter. Victory Capital Management Inc. now owns 930,951 shares of the company’s stock worth $84,325,000 after acquiring an additional 684,971 shares during the last quarter. Finally, Chicago Capital LLC raised its holdings in Planet Fitness by 298.8% during the 1st quarter. Chicago Capital LLC now owns 477,079 shares of the company’s stock valued at $40,304,000 after buying an additional 357,448 shares during the last quarter. 93.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PLNT. JPMorgan Chase & Co. upgraded shares of Planet Fitness from a “neutral” rating to an “overweight” rating and set a $90.00 price target for the company in a report on Wednesday, May 11th. Robert W. Baird lowered their target price on shares of Planet Fitness from $108.00 to $92.00 in a research note on Wednesday, May 11th. DA Davidson lowered their price objective on shares of Planet Fitness from $110.00 to $90.00 in a research note on Friday, May 13th. BMO Capital Markets decreased their target price on shares of Planet Fitness from $96.00 to $88.00 in a research note on Wednesday, May 11th. Finally, Piper Sandler decreased their target price on shares of Planet Fitness from $87.00 to $72.00 in a research note on Wednesday, May 11th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.92.

Planet Fitness Price Performance

PLNT stock opened at $78.81 on Monday. The business has a 50-day moving average price of $70.86 and a 200 day moving average price of $78.88. Planet Fitness, Inc. has a 1-year low of $61.11 and a 1-year high of $99.60. The company has a market capitalization of $7.17 billion, a P/E ratio of 123.14, a PEG ratio of 1.43 and a beta of 1.14.

Planet Fitness (NYSE:PLNTGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Planet Fitness had a negative return on equity of 16.39% and a net margin of 8.11%. The business had revenue of $186.70 million for the quarter, compared to analyst estimates of $190.44 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The company’s revenue was up 66.8% on a year-over-year basis. On average, analysts anticipate that Planet Fitness, Inc. will post 1.55 earnings per share for the current fiscal year.

Planet Fitness Company Profile

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Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. It operates through Franchise, Corporate-Owned Stores, and Equipment segments. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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