Retirement Systems of Alabama Trims Stake in Planet Fitness, Inc. (NYSE:PLNT)

Retirement Systems of Alabama lessened its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 4.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 102,743 shares of the company’s stock after selling 5,289 shares during the quarter. Retirement Systems of Alabama’s holdings in Planet Fitness were worth $8,345,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Tidal Investments LLC lifted its stake in shares of Planet Fitness by 132.5% during the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock worth $2,352,000 after acquiring an additional 16,503 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Planet Fitness in the 3rd quarter valued at $604,000. State Street Corp increased its stake in Planet Fitness by 1.5% in the third quarter. State Street Corp now owns 2,524,764 shares of the company’s stock worth $205,061,000 after purchasing an additional 37,236 shares during the period. Quest Partners LLC lifted its position in shares of Planet Fitness by 126.0% during the third quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after purchasing an additional 5,298 shares during the last quarter. Finally, Qsemble Capital Management LP boosted its stake in shares of Planet Fitness by 100.6% during the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock valued at $1,703,000 after purchasing an additional 10,518 shares during the period. Institutional investors own 95.53% of the company’s stock.

Insider Activity

In other news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at $1,838,382. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.94% of the company’s stock.

Planet Fitness Stock Up 2.9 %

Shares of PLNT opened at $101.88 on Wednesday. The company has a 50 day moving average of $90.66 and a two-hundred day moving average of $81.64. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.90. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 54.77, a price-to-earnings-growth ratio of 3.33 and a beta of 1.53.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $292.20 million for the quarter, compared to the consensus estimate of $283.79 million. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on PLNT shares. Stifel Nicolaus raised their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Robert W. Baird raised their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Bank of America lifted their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Raymond James increased their price objective on Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Finally, BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price for the company in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.