Louisiana State Employees Retirement System Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Louisiana State Employees Retirement System acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,000 shares of the company’s stock, valued at approximately $1,752,000.

Several other hedge funds have also modified their holdings of the stock. Asset Management One Co. Ltd. grew its stake in shares of Planet Fitness by 17.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after purchasing an additional 157 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Planet Fitness by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 37,433 shares of the company’s stock valued at $1,841,000 after purchasing an additional 190 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Planet Fitness by 28.1% during the first quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $69,000 after purchasing an additional 196 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Planet Fitness by 1.1% during the third quarter. Royal Bank of Canada now owns 19,590 shares of the company’s stock valued at $1,129,000 after purchasing an additional 216 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Trading Down 1.2 %

PLNT opened at $58.65 on Friday. The stock has a market capitalization of $5.17 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.93 and a beta of 1.39. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $84.48. The firm’s fifty day simple moving average is $63.00 and its 200 day simple moving average is $64.18.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The firm had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on PLNT shares. Morgan Stanley reissued an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a research note on Monday, April 1st. Stifel Nicolaus reduced their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Piper Sandler raised their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. Finally, StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

About Planet Fitness

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.