State of New Jersey Common Pension Fund D Has $2.55 Million Stake in Planet Fitness, Inc. (NYSE:PLNT)

State of New Jersey Common Pension Fund D lowered its stake in Planet Fitness, Inc. (NYSE:PLNT) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,430 shares of the company’s stock after selling 1,575 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Planet Fitness were worth $2,553,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PLNT. William Blair Investment Management LLC acquired a new stake in Planet Fitness in the 2nd quarter worth approximately $166,978,000. Anomaly Capital Management LP acquired a new stake in shares of Planet Fitness in the second quarter worth $106,795,000. Point72 Asset Management L.P. boosted its holdings in shares of Planet Fitness by 169.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,317,909 shares of the company’s stock worth $96,985,000 after buying an additional 829,509 shares during the period. Steadfast Capital Management LP grew its stake in Planet Fitness by 97.7% in the 1st quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock valued at $86,546,000 after buying an additional 682,863 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Planet Fitness by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,859,366 shares of the company’s stock worth $116,453,000 after acquiring an additional 483,586 shares during the period. Institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

PLNT has been the topic of several research analyst reports. Roth Mkm raised their price target on Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Robert W. Baird lifted their price target on 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 upped their price target on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, September 6th. BNP Paribas raised shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 target price on the stock in a research report on Thursday, September 5th. Finally, Morgan Stanley upped their target price on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average target price of $91.81.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $96.83 on Thursday. The business’s fifty day moving average price is $82.69 and its two-hundred day moving average price is $75.61. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $98.59. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 52.06, a price-to-earnings-growth ratio of 3.16 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last posted 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 net margin of 14.23% and a negative return on equity of 107.97%. The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Planet Fitness, Inc. will post 2.49 EPS 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.