Texas Permanent School Fund Corp raised its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,775 shares of the company’s stock after purchasing an additional 1,049 shares during the period. Texas Permanent School Fund Corp owned 0.08% of Planet Fitness worth $4,683,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Planet Fitness by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 8,076,794 shares of the company’s stock worth $589,606,000 after purchasing an additional 196,809 shares during the period. Cadian Capital Management LP increased its position in Planet Fitness by 9.6% in the fourth quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock worth $323,417,000 after purchasing an additional 386,861 shares during the period. Bank of New York Mellon Corp increased its position in Planet Fitness by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 2,592,136 shares of the company’s stock worth $162,345,000 after purchasing an additional 66,139 shares during the period. Dorsal Capital Management LP acquired a new position in shares of Planet Fitness during the 4th quarter worth about $182,500,000. Finally, Point72 Asset Management L.P. grew its position in shares of Planet Fitness by 39.1% during the 4th quarter. Point72 Asset Management L.P. now owns 1,837,231 shares of the company’s stock worth $134,118,000 after buying an additional 516,790 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.
Planet Fitness Stock Performance
PLNT opened at $75.37 on Friday. Planet Fitness, Inc. has a 52-week low of $44.13 and a 52-week high of $75.86. The firm has a market cap of $6.65 billion, a P/E ratio of 43.32, a price-to-earnings-growth ratio of 2.48 and a beta of 1.49. The business’s fifty day moving average is $68.50 and its 200-day moving average is $66.70.
Planet Fitness (NYSE:PLNT – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $249.48 million. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. Planet Fitness’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.41 EPS. On average, research analysts predict that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PLNT. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $92.00 in a report on Monday, June 24th. Raymond James upped their price objective on Planet Fitness from $75.00 to $80.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 10th. DA Davidson reissued a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a report on Friday, June 14th. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Finally, Stifel Nicolaus lowered Planet Fitness from a “buy” rating to a “hold” rating and decreased their price objective for the company from $80.00 to $70.00 in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.64.
Read Our Latest Analysis on PLNT
Planet Fitness Company 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.
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