California Public Employees Retirement System Lowers Stake in Planet Fitness Inc (PLNT)

California Public Employees Retirement System trimmed its position in shares of Planet Fitness Inc (NYSE:PLNT) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,035 shares of the company’s stock after selling 4,400 shares during the quarter. California Public Employees Retirement System’s holdings in Planet Fitness were worth $5,149,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PLNT. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Planet Fitness by 209.3% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 208,800 shares of the company’s stock worth $11,025,000 after acquiring an additional 141,300 shares during the period. Prudential Financial Inc. grew its stake in shares of Planet Fitness by 2.2% during the 4th quarter. Prudential Financial Inc. now owns 9,627 shares of the company’s stock worth $516,000 after acquiring an additional 203 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Planet Fitness during the 4th quarter worth $735,000. Canada Pension Plan Investment Board bought a new position in shares of Planet Fitness during the 4th quarter worth $9,067,000. Finally, Waratah Capital Advisors Ltd. grew its stake in shares of Planet Fitness by 8.1% during the 4th quarter. Waratah Capital Advisors Ltd. now owns 621,137 shares of the company’s stock worth $33,305,000 after acquiring an additional 46,791 shares during the period. 90.15% of the stock is currently owned by institutional investors.

In other Planet Fitness news, CFO Dorvin D. Lively sold 100,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $63.52, for a total value of $6,352,000.00. Following the sale, the chief financial officer now owns 98,883 shares of the company’s stock, valued at approximately $6,281,048.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Rondeau sold 6,000 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $60.53, for a total value of $363,180.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 466,291 shares of company stock worth $29,813,238. Insiders own 16.38% of the company’s stock.

Several research analysts have commented on PLNT shares. Bank of America restated a “neutral” rating and issued a $68.00 target price (up previously from $62.00) on shares of Planet Fitness in a research note on Thursday, December 6th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, January 1st. Jefferies Financial Group upgraded Planet Fitness from a “hold” rating to a “buy” rating and raised their target price for the stock from $49.00 to $75.00 in a research note on Friday, February 22nd. They noted that the move was a valuation call. Wedbush raised their target price on Planet Fitness from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 27th. Finally, DA Davidson raised their target price on Planet Fitness to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Planet Fitness currently has an average rating of “Buy” and a consensus price target of $58.36.

Shares of NYSE PLNT opened at $67.77 on Friday. Planet Fitness Inc has a 52 week low of $35.92 and a 52 week high of $67.93. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 55.55, a P/E/G ratio of 2.33 and a beta of 0.71.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 26th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Planet Fitness had a negative return on equity of 67.65% and a net margin of 15.36%. The business had revenue of $174.40 million during the quarter, compared to the consensus estimate of $173.76 million. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue was up 30.1% compared to the same quarter last year. On average, equities analysts expect that Planet Fitness Inc will post 1.54 earnings per share for the current year.

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About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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