Planet Fitness, Inc. (NYSE:PLNT) Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 102,743 shares of the company's stock after selling 5,289 shares during the period. Retirement Systems of Alabama owned 0.12% of Planet Fitness worth $8,345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. LRI Investments LLC grew its holdings in Planet Fitness by 61.2% in the 2nd quarter. LRI Investments LLC now owns 403 shares of the company's stock valued at $30,000 after buying an additional 153 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company's stock worth $40,000 after acquiring an additional 201 shares during the last quarter. Quarry LP boosted its position in shares of Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company's stock worth $37,000 after acquiring an additional 318 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 1,516 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Planet Fitness during the third quarter worth approximately $200,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.94% of the company's stock.

Planet Fitness Stock Down 4.3 %

NYSE:PLNT traded down $4.38 during trading hours on Wednesday, reaching $97.45. 1,019,006 shares of the stock were exchanged, compared to its average volume of 1,486,138. The stock has a market capitalization of $8.24 billion, a P/E ratio of 52.39, a P/E/G ratio of 3.33 and a beta of 1.53. The firm has a 50 day simple moving average of $91.42 and a 200-day simple moving average of $82.02. Planet Fitness, Inc. has a 52 week low of $54.35 and a 52 week high of $102.90.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business's revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. As a group, analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BNP Paribas raised shares of Planet Fitness from a "neutral" rating to an "outperform" rating and set a $97.00 price objective for the company in a research note on Thursday, September 5th. Morgan Stanley lifted their target price on Planet Fitness from $84.00 to $89.00 and gave the company an "overweight" rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft started coverage on Planet Fitness in a research note on Friday, September 27th. They set a "hold" rating and a $71.00 price target for the company. Robert W. Baird increased their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Macquarie reaffirmed a "neutral" rating and set a $99.00 price target (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness has an average rating of "Moderate Buy" and a consensus target price of $94.00.

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.