New York State Teachers Retirement System Grows Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

New York State Teachers Retirement System lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 70.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,600 shares of the company's stock after purchasing an additional 13,900 shares during the period. New York State Teachers Retirement System's holdings in Planet Fitness were worth $3,246,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC lifted its position in Planet Fitness by 1,250.0% in the fourth quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after acquiring an additional 450 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after acquiring an additional 387 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Planet Fitness in the fourth quarter valued at $51,000. Skandinaviska Enskilda Banken AB publ lifted its position in Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock valued at $53,000 after acquiring an additional 490 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Planet Fitness in the fourth quarter valued at $57,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLNT has been the subject of a number of research reports. Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley boosted their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. BMO Capital Markets upped their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Finally, Guggenheim reaffirmed a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $106.63.

Planet Fitness Stock Down 0.9%

NYSE PLNT opened at $106.83 on Tuesday. The stock has a market capitalization of $8.99 billion, a P/E ratio of 50.39, a P/E/G ratio of 2.39 and a beta of 1.33. Planet Fitness, Inc. has a 52-week low of $68.75 and a 52-week high of $110.95. The firm has a 50-day moving average price of $102.98 and a 200 day moving average price of $100.59.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). The firm had revenue of $276.66 million for the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. On average, equities 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.

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