Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its stake in Planet Fitness, Inc. (NYSE:PLNT) by 9.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,512 shares of the company’s stock after selling 459 shares during the period. Maryland State Retirement & Pension System’s holdings in Planet Fitness were worth $446,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Natixis Advisors LLC purchased a new position in Planet Fitness in the 3rd quarter worth about $855,000. Larson Financial Group LLC boosted its holdings in shares of Planet Fitness by 151,050.0% in the third quarter. Larson Financial Group LLC now owns 3,023 shares of the company’s stock worth $246,000 after buying an additional 3,021 shares during the period. Qsemble Capital Management LP increased its position in shares of Planet Fitness by 100.6% in the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock worth $1,703,000 after acquiring an additional 10,518 shares in the last quarter. FMR LLC increased its position in shares of Planet Fitness by 666.9% in the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after acquiring an additional 691,761 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Planet Fitness during the third quarter valued at approximately $1,990,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PLNT shares. Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research report on Thursday, March 13th. They set a “buy” rating and a $120.00 price objective on the stock. Guggenheim reissued a “buy” rating and set a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th. Macquarie reduced their price objective on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Roth Mkm reaffirmed a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Finally, DA Davidson reissued a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $99.83 on Wednesday. The stock’s 50 day simple moving average is $100.89 and its 200 day simple moving average is $94.45. Planet Fitness, Inc. has a twelve month low of $57.64 and a twelve month high of $110.00. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 53.67, a PEG ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. On average, analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

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.