Planet Fitness, Inc. (NYSE:PLNT) Stock Holdings Cut by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,139 shares of the company's stock after selling 3,668 shares during the period. California State Teachers Retirement System owned about 0.09% of Planet Fitness worth $7,824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in shares of Planet Fitness in the fourth quarter worth $11,963,000. Freestone Grove Partners LP acquired a new position in Planet Fitness during the 4th quarter worth $25,676,000. Jump Financial LLC bought a new stake in shares of Planet Fitness in the 4th quarter worth about $965,000. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Planet Fitness in the 4th quarter valued at about $3,378,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Planet Fitness in the 4th quarter valued at about $2,988,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analysts Set New Price Targets

PLNT has been the subject of several research analyst reports. Guggenheim reissued a "buy" rating and issued a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. BMO Capital Markets boosted their price target on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Macquarie reissued a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research report on Tuesday, May 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Planet Fitness in a report on Monday, February 24th. Finally, Canaccord Genuity Group assumed coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They set a "buy" rating and a $120.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.11.

Planet Fitness Trading Up 2.3%

PLNT traded up $2.41 during trading hours on Monday, hitting $105.24. The company's stock had a trading volume of 1,075,877 shares, compared to its average volume of 1,400,090. The company has a 50-day simple moving average of $97.55 and a 200 day simple moving average of $99.45. The firm has a market capitalization of $8.86 billion, a PE ratio of 56.58, a PEG ratio of 2.45 and a beta of 1.33. Planet Fitness, Inc. has a fifty-two week low of $62.42 and a fifty-two week high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The business had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. Research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.