Arizona State Retirement System Sells 551 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Arizona State Retirement System cut its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,639 shares of the company’s stock after selling 551 shares during the quarter. Arizona State Retirement System’s holdings in Planet Fitness were worth $1,726,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its position in shares of Planet Fitness by 93.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 456 shares of the company’s stock worth $35,000 after acquiring an additional 220 shares during the last quarter. Quarry LP bought a new position in Planet Fitness during the 1st quarter worth approximately $38,000. International Assets Investment Management LLC bought a new position in Planet Fitness during the 3rd quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Planet Fitness in the 4th quarter worth approximately $47,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Planet Fitness by 28.1% in the 1st quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $69,000 after purchasing an additional 196 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

NYSE:PLNT opened at $61.30 on Friday. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $84.48. The company has a market cap of $5.40 billion, a PE ratio of 37.84, a PEG ratio of 1.28 and a beta of 1.39. The firm has a 50-day moving average of $63.70 and a 200-day moving average of $63.80.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. During the same period in the previous year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLNT has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research report on Monday, February 5th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, February 26th. Finally, Piper Sandler increased their target price on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $71.00.

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.