Louisiana State Employees Retirement System Acquires Shares of 24,000 Planet Fitness, Inc. (NYSE:PLNT)

Louisiana State Employees Retirement System acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 24,000 shares of the company’s stock, valued at approximately $1,752,000.

A number of other large investors have also recently made changes to their positions in PLNT. PNC Financial Services Group Inc. lifted its position in shares of Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock valued at $112,000 after purchasing an additional 157 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock valued at $155,000 after purchasing an additional 1,635 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Planet Fitness during the first quarter valued at about $357,000. BlackRock Inc. lifted its position in shares of Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after purchasing an additional 1,852,867 shares in the last quarter. Finally, Vontobel Holding Ltd. bought a new position in shares of Planet Fitness during the first quarter valued at about $919,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Down 1.2 %

PLNT opened at $58.65 on Friday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.93 and a beta of 1.39. The firm has a 50-day moving average price of $63.00 and a 200-day moving average price of $64.18. Planet Fitness, Inc. has a twelve month low of $44.13 and a twelve month high of $84.48.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on PLNT shares. Royal Bank of Canada raised their price target on shares of Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Stifel Nicolaus decreased their price objective on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Piper Sandler raised their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, January 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued 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 price target 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.