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

California Public Employees Retirement System reduced its position in Planet Fitness, Inc. (NYSE:PLNT) by 8.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 141,236 shares of the company’s stock after selling 13,584 shares during the quarter. California Public Employees Retirement System’s holdings in Planet Fitness were worth $13,964,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PLNT. Corient Private Wealth LLC boosted its stake in Planet Fitness by 2.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company’s stock worth $457,000 after buying an additional 94 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Planet Fitness by 2.6% in the 3rd quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after purchasing an additional 124 shares in the last quarter. Cetera Trust Company N.A grew its holdings in shares of Planet Fitness by 5.2% during the 4th quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after purchasing an additional 135 shares during the last quarter. UMB Bank n.a. raised its position in Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares during the period. Finally, Truist Financial Corp lifted its stake in Planet Fitness by 1.3% in the fourth quarter. Truist Financial Corp now owns 12,632 shares of the company’s stock worth $1,249,000 after purchasing an additional 161 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Down 4.9 %

NYSE PLNT opened at $92.68 on Friday. The stock’s 50 day moving average is $99.51 and its 200 day moving average is $95.23. The firm has a market capitalization of $7.85 billion, a PE ratio of 49.83, a P/E/G ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a twelve month low of $57.64 and a twelve month high of $110.00.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The firm had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. During the same period in the prior year, the firm earned $0.60 EPS. The company’s revenue was up 19.4% compared to the same quarter last year. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler lifted their price objective on Planet Fitness from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Canaccord Genuity Group started coverage on Planet Fitness in a research report on Thursday, March 13th. They issued a “buy” rating and a $120.00 price objective for the company. BMO Capital Markets raised their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Roth Mkm reiterated a “buy” rating and set a $115.00 price target (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.