Planet Fitness, Inc. (NYSE:PLNT) Stake Increased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 183.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,345 shares of the company's stock after acquiring an additional 82,415 shares during the quarter. New York State Common Retirement Fund owned approximately 0.15% of Planet Fitness worth $12,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of PLNT. Proficio Capital Partners LLC acquired a new stake in Planet Fitness in the fourth quarter worth approximately $51,000. Raymond James Financial Inc. acquired a new position in Planet Fitness in the 4th quarter valued at approximately $2,988,000. Natixis Advisors LLC lifted its position in shares of Planet Fitness by 37.1% during the fourth quarter. Natixis Advisors LLC now owns 14,438 shares of the company's stock valued at $1,427,000 after purchasing an additional 3,909 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Planet Fitness by 2.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,623 shares of the company's stock worth $457,000 after purchasing an additional 94 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Planet Fitness by 34.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,764 shares of the company's stock worth $2,646,000 after buying an additional 6,894 shares during the period. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Stock Performance

Shares of PLNT stock traded down $2.31 on Monday, hitting $110.17. 1,072,092 shares of the company's stock traded hands, compared to its average volume of 1,382,688. The company's fifty day simple moving average is $105.15 and its 200 day simple moving average is $101.18. Planet Fitness, Inc. has a one year low of $68.75 and a one year high of $113.15. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 51.97, a P/E/G ratio of 2.50 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $276.66 million during 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 was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PLNT. Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Macquarie reiterated a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley raised their price target on shares of Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Guggenheim restated a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $106.63.

About Planet Fitness

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.