Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its stake in Planet Fitness, Inc. (NYSE:PLNT) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,230 shares of the company’s stock after selling 880 shares during the period. State of Alaska Department of Revenue’s holdings in Planet Fitness were worth $673,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PLNT. PNC Financial Services Group Inc. increased its position in Planet Fitness by 13.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after acquiring an additional 157 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in Planet Fitness by 801.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after acquiring an additional 1,635 shares during the period. MetLife Investment Management LLC acquired a new position in Planet Fitness in the 1st quarter valued at about $357,000. BlackRock Inc. increased its position in Planet Fitness by 34.8% in the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after acquiring an additional 1,852,867 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in Planet Fitness in the 1st quarter valued at about $919,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $62.60 on Friday. The business’s 50 day simple moving average is $63.85 and its 200-day simple moving average is $63.69. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $84.48.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same quarter in the previous year, the company earned $0.53 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts anticipate that Planet Fitness, Inc. will post 2.48 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PLNT shares. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday. Piper Sandler lifted their price objective on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. DA Davidson reaffirmed a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Monday, February 5th. JPMorgan Chase & Co. lowered their price objective on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 price objective on shares of Planet Fitness in a report on Monday, April 1st. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.00.

Planet Fitness 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.