Texas Permanent School Fund Corp Sells 4,850 Shares of Planet Fitness, Inc. $PLNT

Texas Permanent School Fund Corp trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 12.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 32,945 shares of the company’s stock after selling 4,850 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Planet Fitness were worth $3,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. boosted its holdings in shares of Planet Fitness by 10.8% in the 1st quarter. Raymond James Financial Inc. now owns 33,476 shares of the company’s stock worth $3,234,000 after purchasing an additional 3,253 shares during the period. Inceptionr LLC purchased a new stake in Planet Fitness during the 2nd quarter valued at $356,000. ABN AMRO Bank N.V. bought a new stake in Planet Fitness in the second quarter worth $13,214,000. Credit Agricole S A purchased a new position in Planet Fitness during the first quarter worth $1,588,000. Finally, Elwood Capital Partners LP boosted its stake in Planet Fitness by 50.5% during the first quarter. Elwood Capital Partners LP now owns 70,008 shares of the company’s stock worth $6,763,000 after buying an additional 23,503 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $109.97 on Friday. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 44.89, a price-to-earnings-growth ratio of 2.46 and a beta of 1.28. The firm has a 50-day moving average of $102.56 and a two-hundred day moving average of $104.53. Planet Fitness, Inc. has a 1 year low of $87.72 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.08. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The firm had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Macquarie raised their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. UBS Group assumed coverage on shares of Planet Fitness in a research note on Friday, October 17th. They issued a “buy” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Morgan Stanley raised their price target on Planet Fitness from $119.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.92.

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.