South Dakota Investment Council Decreases Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

South Dakota Investment Council reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 80.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,172 shares of the company's stock after selling 30,113 shares during the period. South Dakota Investment Council's holdings in Planet Fitness were worth $693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Planet Fitness by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 8,035,765 shares of the company's stock valued at $794,496,000 after buying an additional 39,928 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Planet Fitness by 48.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company's stock valued at $782,169,000 after buying an additional 2,570,826 shares during the period. JPMorgan Chase & Co. boosted its holdings in Planet Fitness by 1.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,609,196 shares of the company's stock valued at $356,841,000 after purchasing an additional 36,803 shares in the last quarter. Ninety One UK Ltd boosted its holdings in shares of Planet Fitness by 61.1% in the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company's stock valued at $205,265,000 after acquiring an additional 806,023 shares during the period. Finally, Anomaly Capital Management LP boosted its holdings in shares of Planet Fitness by 20.3% in the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company's stock valued at $175,256,000 after acquiring an additional 299,148 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. BMO Capital Markets increased their target price on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Macquarie reaffirmed a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group set a $126.00 price target on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, June 12th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.63.

Planet Fitness Stock Down 0.3%

PLNT traded down $0.30 during trading on Friday, hitting $112.12. The company had a trading volume of 131,524 shares, compared to its average volume of 1,500,835. Planet Fitness, Inc. has a one year low of $68.75 and a one year high of $114.47. The company has a market capitalization of $9.44 billion, a PE ratio of 52.88, a PEG ratio of 2.53 and a beta of 1.33. The firm's 50-day moving average price is $106.15 and its 200 day moving average price is $101.41.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The firm had revenue of $276.66 million for the quarter, compared to the consensus estimate of $279.80 million. During the same quarter last year, the business posted $0.53 EPS. Planet Fitness's revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current 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.