Retirement Systems of Alabama Sells 5,289 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Retirement Systems of Alabama cut its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,743 shares of the company’s stock after selling 5,289 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Planet Fitness worth $8,345,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. purchased a new stake in shares of Planet Fitness during the 2nd quarter valued at about $1,118,000. Fifth Third Wealth Advisors LLC bought a new position in Planet Fitness during the second quarter valued at approximately $266,000. Louisiana State Employees Retirement System lifted its position in Planet Fitness by 0.8% during the second quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the company’s stock valued at $1,825,000 after purchasing an additional 200 shares during the period. LRI Investments LLC boosted its holdings in Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in Planet Fitness in the 2nd quarter worth approximately $215,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Performance

NYSE PLNT opened at $101.88 on Wednesday. The stock has a 50 day moving average price of $90.66 and a 200-day moving average price of $81.64. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $102.90. The company has a market capitalization of $8.62 billion, a P/E ratio of 54.77, a P/E/G ratio of 3.33 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.57 by $0.07. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same quarter last year, the business earned $0.59 earnings per share. Planet Fitness’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Insider Activity at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.94% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PLNT has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley increased their target price on Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their price target on Planet Fitness from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Macquarie restated a “neutral” rating and set a $99.00 target price (up from $91.00) on shares of Planet Fitness in a research report on Friday, November 8th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

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.