Retirement Systems of Alabama reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,743 shares of the company's stock after selling 5,289 shares during the quarter. Retirement Systems of Alabama owned 0.12% of Planet Fitness worth $8,345,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. LRI Investments LLC boosted its stake in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company's stock worth $30,000 after purchasing an additional 153 shares during the period. Quarry LP boosted its stake in shares of Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company's stock worth $37,000 after buying an additional 318 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock valued at $40,000 after acquiring an additional 201 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Planet Fitness by 396.9% in the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company's stock valued at $154,000 after acquiring an additional 1,516 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Planet Fitness during the second quarter worth about $200,000. 95.53% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have weighed in on PLNT. BNP Paribas upgraded Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price target for the company in a research note on Thursday, September 5th. Macquarie reissued a "neutral" rating and issued a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Bank of America upped their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. Royal Bank of Canada upped their price objective on Planet Fitness from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, Robert W. Baird lifted their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.00.
View Our Latest Stock Report on PLNT
Planet Fitness Stock Performance
Shares of Planet Fitness stock opened at $101.88 on Wednesday. The firm has a 50-day moving average of $90.66 and a 200-day moving average of $81.64. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $102.90. The stock has a market cap of $8.62 billion, a PE ratio of 54.77, a PEG ratio of 3.33 and a beta of 1.53.
Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same quarter in the previous year, the firm posted $0.59 EPS. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts predict that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares of the company's stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is currently owned by company insiders.
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.
See Also
Before you consider Planet Fitness, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Planet Fitness wasn't on the list.
While Planet Fitness currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
