New York State Common Retirement Fund Trims Holdings in Planet Fitness, Inc. (NYSE:PLNT)

New York State Common Retirement Fund reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 69.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,930 shares of the company’s stock after selling 101,760 shares during the quarter. New York State Common Retirement Fund owned 0.05% of Planet Fitness worth $4,442,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. M&T Bank Corp boosted its stake in shares of Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock worth $402,000 after acquiring an additional 124 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of Planet Fitness by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 3,047 shares of the company’s stock worth $247,000 after acquiring an additional 132 shares during the last quarter. Cetera Trust Company N.A boosted its stake in shares of Planet Fitness by 5.2% in the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock worth $268,000 after acquiring an additional 135 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after acquiring an additional 157 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of 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 acquiring an additional 161 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Trading Up 1.2 %

PLNT stock opened at $92.50 on Friday. The company has a market capitalization of $7.82 billion, a PE ratio of 49.73, a P/E/G ratio of 2.45 and a beta of 1.53. Planet Fitness, Inc. has a 12-month low of $54.35 and a 12-month high of $110.00. The business’s fifty day moving average price is $102.28 and its 200 day moving average price is $92.23.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. The firm had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. Research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Raymond James lifted their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Guggenheim reiterated a “buy” rating and set a $105.00 price objective on shares of Planet Fitness in a research report on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price objective on shares of Planet Fitness in a research report on Monday, February 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and an average target price of $99.00.

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.