State of Alaska Department of Revenue Sells 430 Shares of Planet Fitness, Inc. $PLNT

State of Alaska Department of Revenue reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 4.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,435 shares of the company’s stock after selling 430 shares during the period. State of Alaska Department of Revenue’s holdings in Planet Fitness were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Beaumont Financial Advisors LLC purchased a new position in shares of Planet Fitness during the second quarter valued at approximately $222,000. GAMMA Investing LLC lifted its stake in shares of Planet Fitness by 19.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,675 shares of the company’s stock worth $292,000 after acquiring an additional 430 shares during the last quarter. Toth Financial Advisory Corp purchased a new position in Planet Fitness during the 2nd quarter valued at $333,000. Walter Public Investments Inc. boosted its holdings in Planet Fitness by 10.4% during the 2nd quarter. Walter Public Investments Inc. now owns 190,794 shares of the company’s stock valued at $20,806,000 after acquiring an additional 17,950 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Planet Fitness by 48.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock valued at $84,000 after acquiring an additional 253 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research note on Saturday, September 27th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $126.00 target price on shares of Planet Fitness in a research report on Monday, September 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.54.

Planet Fitness Trading Down 2.1%

Shares of PLNT opened at $100.55 on Monday. The firm has a market cap of $8.47 billion, a P/E ratio of 44.69, a PEG ratio of 2.24 and a beta of 1.38. Planet Fitness, Inc. has a 12 month low of $77.77 and a 12 month high of $114.47. The stock’s 50 day moving average is $104.82 and its two-hundred day moving average is $102.93.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The firm had revenue of $340.88 million during the quarter, compared to analysts’ expectations of $329.59 million. During the same period in the previous year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

About Planet Fitness

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.