State of New Jersey Common Pension Fund D Sells 1,575 Shares of Planet Fitness, Inc. (NYSE:PLNT)

State of New Jersey Common Pension Fund D trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 4.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,430 shares of the company’s stock after selling 1,575 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Planet Fitness were worth $2,553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLNT. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Planet Fitness by 26.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,582 shares of the company’s stock worth $851,000 after purchasing an additional 2,831 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Planet Fitness by 228.8% during the 1st quarter. BNP Paribas Financial Markets now owns 23,069 shares of the company’s stock worth $1,445,000 after buying an additional 16,053 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Planet Fitness by 1.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,388 shares of the company’s stock valued at $1,026,000 after buying an additional 174 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Planet Fitness by 6.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 9,585 shares of the company’s stock valued at $600,000 after buying an additional 553 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Planet Fitness by 46.5% during the first quarter. SG Americas Securities LLC now owns 7,931 shares of the company’s stock worth $497,000 after acquiring an additional 2,517 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PLNT. Roth Mkm lifted their price objective on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird boosted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Macquarie reaffirmed a “neutral” rating and issued a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Royal Bank of Canada upped their target price on shares of Planet Fitness from $87.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Planet Fitness in a research report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.81.

Planet Fitness Stock Performance

NYSE PLNT opened at $96.83 on Thursday. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 52.06, a PEG ratio of 3.16 and a beta of 1.49. The business has a 50 day simple moving average of $82.69 and a 200 day simple moving average of $75.61. Planet Fitness, Inc. has a 52-week low of $54.35 and a 52-week high of $98.59.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. During the same quarter in the prior year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts predict that Planet Fitness, Inc. will post 2.49 EPS for the current year.

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.