California Public Employees Retirement System Cuts Holdings in Planet Fitness, Inc. (NYSE:PLNT)

California Public Employees Retirement System cut its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,236 shares of the company's stock after selling 13,584 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Planet Fitness worth $13,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Planet Fitness by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock valued at $794,496,000 after acquiring an additional 39,928 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Planet Fitness by 1.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock valued at $356,841,000 after purchasing an additional 36,803 shares during the period. State Street Corp boosted its stake in shares of Planet Fitness by 1.5% during the third quarter. State Street Corp now owns 2,524,764 shares of the company's stock valued at $205,061,000 after purchasing an additional 37,236 shares during the period. Ninety One UK Ltd bought a new stake in Planet Fitness in the fourth quarter valued at $130,376,000. Finally, Norges Bank bought a new stake in Planet Fitness in the fourth quarter valued at $100,009,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Trading Down 1.5 %

NYSE PLNT traded down $1.39 on Thursday, reaching $93.19. 124,315 shares of the company were exchanged, compared to its average volume of 1,450,958. The business's fifty day moving average price is $98.06 and its 200 day moving average price is $95.46. The stock has a market capitalization of $7.89 billion, a P/E ratio of 50.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a fifty-two week low of $57.64 and a fifty-two week high of $110.00.

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Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company's revenue for the quarter was up 19.4% on a year-over-year basis. Equities research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

PLNT has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They set a "buy" rating and a $120.00 price target for the company. DA Davidson reaffirmed a "neutral" rating and set a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Stifel Nicolaus reduced their price target on shares of Planet Fitness from $90.00 to $82.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Finally, Piper Sandler upped their price target on Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and an average price target of $101.44.

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.