Maryland State Retirement & Pension System acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,300 shares of the company’s stock, valued at approximately $496,000.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Global Retirement Partners LLC boosted its holdings in Planet Fitness by 58.4% during the third quarter. Global Retirement Partners LLC now owns 852 shares of the company’s stock worth $56,000 after buying an additional 314 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Planet Fitness by 23.0% during the first quarter. Captrust Financial Advisors now owns 1,172 shares of the company’s stock worth $99,000 after buying an additional 219 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after buying an additional 157 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in 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 worth $155,000 after buying an additional 1,635 shares in the last quarter. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in Planet Fitness during the third quarter worth approximately $115,000. 94.56% of the stock is currently owned by institutional investors.
Shares of PLNT opened at $77.67 on Monday. The company’s fifty day moving average is $79.46 and its 200-day moving average is $73.70. Planet Fitness, Inc. has a 12 month low of $54.15 and a 12 month high of $88.31. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 66.38, a price-to-earnings-growth ratio of 1.43 and a beta of 1.30.
Planet Fitness (NYSE:PLNT – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. Planet Fitness had a net margin of 10.61% and a negative return on equity of 65.39%. The business had revenue of $281.30 million for the quarter, compared to analyst estimates of $271.48 million. During the same period last year, the business posted $0.26 EPS. Planet Fitness’s revenue was up 53.2% compared to the same quarter last year. As a group, research analysts predict that Planet Fitness, Inc. will post 2.2 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the stock. DA Davidson restated a “neutral” rating and set a $87.00 target price on shares of Planet Fitness in a report on Friday, February 24th. Stifel Nicolaus upped their price target on shares of Planet Fitness from $82.00 to $93.00 and gave the company a “buy” rating in a research report on Friday, January 13th. Cowen upped their price target on shares of Planet Fitness from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, February 27th. Robert W. Baird upped their price target on shares of Planet Fitness from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Finally, Piper Sandler upped their price target on shares of Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, December 22nd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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