Louisiana State Employees Retirement System Cuts Position in Planet Fitness, Inc. (NYSE:PLNT)

Louisiana State Employees Retirement System decreased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,400 shares of the company’s stock after selling 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Planet Fitness were worth $1,901,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in Planet Fitness during the 1st quarter valued at $27,000. GAMMA Investing LLC lifted its position in shares of Planet Fitness by 478.8% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after acquiring an additional 316 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares during the last quarter. Quarry LP increased its position in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock valued at $40,000 after purchasing an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Activity

In related news, CAO Brian O’donnell sold 6,424 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the sale, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at $524,549.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.94% of the stock is owned by corporate insiders.

Planet Fitness Stock Performance

Planet Fitness stock opened at $78.50 on Thursday. Planet Fitness, Inc. has a 52 week low of $53.31 and a 52 week high of $85.08. The firm has a market capitalization of $6.92 billion, a PE ratio of 45.11, a PEG ratio of 2.74 and a beta of 1.49. The business’s 50-day simple moving average is $81.32 and its 200-day simple moving average is $73.69.

Planet Fitness (NYSE:PLNT) last released its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. Research analysts forecast that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Morgan Stanley raised their price target on Planet Fitness from $84.00 to $89.00 and gave the stock an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 price objective for the company. Stifel Nicolaus raised their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $92.00 price target on shares of Planet Fitness in a research report on Monday, August 26th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.93.

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.