Teacher Retirement System of Texas increased its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Get Rating ) by 73.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,020 shares of the company’s stock after purchasing an additional 9,720 shares during the period. Teacher Retirement System of Texas’ holdings in Planet Fitness were worth $1,327,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after purchasing an additional 1,852,867 shares during the period. Invesco Ltd. raised its stake in shares of Planet Fitness by 38.9% during the 1st quarter. Invesco Ltd. now owns 1,700,236 shares of the company’s stock valued at $143,636,000 after purchasing an additional 476,578 shares during the period. FMR LLC raised its stake in shares of Planet Fitness by 9.0% during the 2nd quarter. FMR LLC now owns 1,653,529 shares of the company’s stock valued at $112,457,000 after purchasing an additional 136,191 shares during the period. Bares Capital Management Inc. raised its stake in shares of Planet Fitness by 355.5% during the 2nd quarter. Bares Capital Management Inc. now owns 1,438,570 shares of the company’s stock valued at $97,837,000 after purchasing an additional 1,122,752 shares during the period. Finally, State Street Corp raised its stake in shares of Planet Fitness by 1.0% during the 2nd quarter. State Street Corp now owns 1,266,432 shares of the company’s stock valued at $86,130,000 after purchasing an additional 13,000 shares in the last quarter. Institutional investors and hedge funds own 94.56% of the company’s shares.
Analyst Rating Changes
PLNT has been the subject of a number of recent research reports. DA Davidson boosted their price target on shares of Planet Fitness from $90.00 to $99.00 and gave the company a “buy” rating in a report on Friday, November 11th. Morgan Stanley decreased their price objective on shares of Planet Fitness from $93.00 to $88.00 and set an “overweight” rating on the stock in a report on Monday, November 14th. StockNews.com began coverage on shares of Planet Fitness in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Robert W. Baird boosted their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 11th. Finally, Piper Sandler lifted their target price on shares of Planet Fitness from $79.00 to $93.00 and gave the stock an “overweight” rating in a report on Thursday, December 22nd. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.46.
Planet Fitness Stock Performance
Shares of PLNT opened at $82.48 on Tuesday. The company has a 50-day simple moving average of $78.86 and a 200-day simple moving average of $72.47. The firm has a market cap of $7.39 billion, a P/E ratio of 98.19, a P/E/E ratio of 1.26 and a beta of 1.23. Planet Fitness, Inc. has a 52 week low of $54.15 and a 52 week high of $97.04.
Planet Fitness (NYSE:PLNT – Get Rating ) last released its quarterly earnings data on Tuesday, November 8th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $244.39 million for the quarter, compared to analyst estimates of $237.40 million. Planet Fitness had a net margin of 8.52% and a negative return on equity of 36.77%. As a group, stock analysts predict that Planet Fitness, Inc. 1.59 earnings per share for the current year.
Planet Fitness Company Profile
Planet Fitness, Inc. is involved in the operation and franchising of fitness centers. It operates through the following segments: franchise, corporate owned stores and equipment. The franchise segment includes operations related to the company’s franchise business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico and Australia.
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