Planet Fitness, Inc. (NYSE:PLNT) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama raised its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 48.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 231,717 shares of the company's stock after purchasing an additional 75,634 shares during the period. Retirement Systems of Alabama owned about 0.26% of Planet Fitness worth $16,915,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLNT. Allworth Financial LP grew its holdings in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness in the fourth quarter valued at approximately $47,000. CWM LLC lifted its position in shares of Planet Fitness by 109.5% in the third quarter. CWM LLC now owns 1,460 shares of the company's stock valued at $72,000 after acquiring an additional 763 shares in the last quarter. Covestor Ltd lifted its position in shares of Planet Fitness by 19.5% in the third quarter. Covestor Ltd now owns 1,460 shares of the company's stock valued at $72,000 after acquiring an additional 238 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Planet Fitness by 17.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 999 shares of the company's stock valued at $73,000 after acquiring an additional 148 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Trading Down 2.0 %

PLNT traded down $1.18 on Wednesday, hitting $58.66. 1,712,436 shares of the company were exchanged, compared to its average volume of 1,672,159. Planet Fitness, Inc. has a twelve month low of $44.13 and a twelve month high of $83.11. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 1.95 and a beta of 1.39. The firm has a 50-day moving average price of $61.78 and a two-hundred day moving average price of $65.02.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLNT shares. Morgan Stanley restated an "overweight" rating and issued a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. Stifel Nicolaus reduced their price objective on Planet Fitness from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 23rd. StockNews.com upgraded Planet Fitness from a "sell" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a research report on Monday, February 26th. Finally, DA Davidson reiterated a "neutral" rating and set a $62.00 price objective on shares of Planet Fitness in a research report on Monday, February 5th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.00.

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.