Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its stake in Planet Fitness, Inc. (NYSE:PLNTFree Report) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 89,473 shares of the company’s stock after selling 4,631 shares during the quarter. California State Teachers Retirement System’s holdings in Planet Fitness were worth $6,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cadian Capital Management LP boosted its position in shares of Planet Fitness by 164.7% during the third quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock worth $198,860,000 after buying an additional 2,516,007 shares during the period. Norges Bank acquired a new position in shares of Planet Fitness during the fourth quarter worth approximately $65,674,000. Hawk Ridge Capital Management LP acquired a new position in shares of Planet Fitness during the third quarter worth approximately $29,476,000. Adage Capital Partners GP L.L.C. acquired a new stake in Planet Fitness in the third quarter worth approximately $25,133,000. Finally, American Century Companies Inc. lifted its position in Planet Fitness by 66.8% in the third quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock worth $43,166,000 after purchasing an additional 351,401 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Stock Up 4.7 %

Shares of NYSE:PLNT opened at $71.24 on Tuesday. The company’s fifty day moving average is $62.68 and its two-hundred day moving average is $66.00. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $75.86. The company has a market cap of $6.28 billion, a P/E ratio of 40.40, a price-to-earnings-growth ratio of 2.29 and a beta of 1.43.

Planet Fitness (NYSE:PLNTGet Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $249.48 million. During the same period in the previous year, the business earned $0.41 EPS. The company’s revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Stifel Nicolaus downgraded Planet Fitness from a “buy” rating to a “hold” rating and cut their target price for the stock from $80.00 to $70.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $78.00 in a research report on Tuesday, May 14th. Robert W. Baird upped their target price on Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 price target on shares of Planet Fitness in a report on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $75.00.

Read Our Latest Analysis on Planet Fitness

Planet Fitness Profile

(Free Report)

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.

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

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