Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 189.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,282 shares of the company’s stock after purchasing an additional 21,772 shares during the period. Teacher Retirement System of Texas’ holdings in Planet Fitness were worth $3,291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its holdings in Planet Fitness by 1.5% in the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after buying an additional 37,236 shares in the last quarter. Ninety One UK Ltd purchased a new stake in shares of Planet Fitness during the fourth quarter worth about $130,376,000. FMR LLC increased its position in shares of Planet Fitness by 666.9% during the third quarter. FMR LLC now owns 795,485 shares of the company’s stock worth $64,609,000 after acquiring an additional 691,761 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Planet Fitness in the fourth quarter worth about $22,289,000. Finally, Artemis Investment Management LLP purchased a new position in Planet Fitness in the fourth quarter valued at about $18,767,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PLNT. Guggenheim restated a “buy” rating and set a $105.00 price objective on shares of Planet Fitness in a report on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Planet Fitness in a report on Monday, February 24th. Roth Mkm reissued a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Stifel Nicolaus cut their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Finally, Macquarie decreased their price target on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $100.17.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $99.83 on Wednesday. The firm has a market capitalization of $8.45 billion, a PE ratio of 53.67, a P/E/G ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00. The business’s fifty day moving average price is $100.89 and its two-hundred day moving average price is $94.45.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $340.50 million for the quarter, compared to analysts’ expectations of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. Equities research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.