South Dakota Investment Council Has $3.03 Million Stake in Planet Fitness, Inc. (NYSE:PLNT)

South Dakota Investment Council increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 60.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,531 shares of the company's stock after purchasing an additional 15,613 shares during the quarter. South Dakota Investment Council's holdings in Planet Fitness were worth $3,032,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Cadian Capital Management LP lifted its stake in Planet Fitness by 164.7% in the third quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company's stock valued at $198,860,000 after acquiring an additional 2,516,007 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Planet Fitness by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 2,659,856 shares of the company's stock valued at $130,812,000 after acquiring an additional 12,139 shares during the last quarter. Bamco Inc. NY lifted its stake in Planet Fitness by 20.0% in the third quarter. Bamco Inc. NY now owns 1,200,000 shares of the company's stock valued at $59,016,000 after acquiring an additional 200,000 shares during the last quarter. American Century Companies Inc. lifted its stake in Planet Fitness by 66.8% in the third quarter. American Century Companies Inc. now owns 877,723 shares of the company's stock valued at $43,166,000 after acquiring an additional 351,401 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Planet Fitness by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 851,951 shares of the company's stock valued at $41,899,000 after acquiring an additional 29,512 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of PLNT traded down $1.21 during trading hours on Thursday, hitting $59.88. The stock had a trading volume of 1,397,431 shares, compared to its average volume of 1,663,447. The company's fifty day moving average is $62.30 and its two-hundred day moving average is $64.64. Planet Fitness, Inc. has a 52 week low of $44.13 and a 52 week high of $84.48. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 36.96, a P/E/G ratio of 1.97 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The business had revenue of $285.10 million for the quarter, compared to analyst estimates of $282.35 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Planet Fitness, Inc. will post 2.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on PLNT. Stifel Nicolaus dropped their price target on shares of Planet Fitness from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Planet Fitness from $75.00 to $72.00 and set a "neutral" rating for the company in a research note on Monday, February 26th. Morgan Stanley restated an "overweight" rating and issued a $79.00 price objective on shares of Planet Fitness in a research note on Monday, April 1st. Piper Sandler boosted their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $71.00.

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.