Louisiana State Employees Retirement System Purchases 200 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Louisiana State Employees Retirement System lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 0.8% in the 2nd quarter, Holdings Channel reports. The fund owned 24,800 shares of the company’s stock after buying an additional 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Planet Fitness were worth $1,825,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PLNT. Vanguard Group Inc. lifted its holdings in Planet Fitness by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after purchasing an additional 97,823 shares during the last quarter. Cadian Capital Management LP lifted its stake in shares of Planet Fitness by 9.6% during the 4th quarter. Cadian Capital Management LP now owns 4,430,368 shares of the company’s stock valued at $323,417,000 after buying an additional 386,861 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Planet Fitness by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,592,136 shares of the company’s stock worth $162,345,000 after buying an additional 66,139 shares during the period. Dorsal Capital Management LP purchased a new position in Planet Fitness in the 4th quarter valued at approximately $182,500,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Planet Fitness by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock valued at $116,453,000 after acquiring an additional 483,586 shares during the period. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

NYSE:PLNT opened at $81.07 on Friday. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $81.64. The business has a 50 day moving average of $75.45 and a 200 day moving average of $67.70. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 46.59, a PEG ratio of 2.65 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. During the same period in the previous year, the business posted $0.65 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling at Planet Fitness

In other news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the transaction, the chief accounting officer now owns 6,778 shares in the company, valued at $524,549.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.94% of the company’s stock.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Planet Fitness from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Piper Sandler lifted their target price on Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Raymond James raised their price objective on shares of Planet Fitness from $75.00 to $80.00 and gave the company a “strong-buy” rating in a research report on Friday, May 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a report on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $79.87.

Planet Fitness 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.