Teacher Retirement System of Texas Cuts Stake in Planet Fitness, Inc. $PLNT

Teacher Retirement System of Texas cut its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 20.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 24,852 shares of the company’s stock after selling 6,213 shares during the period. Teacher Retirement System of Texas’ holdings in Planet Fitness were worth $2,580,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Game Plan Financial Advisors LLC bought a new stake in Planet Fitness during the 2nd quarter valued at about $25,000. Hantz Financial Services Inc. grew its holdings in shares of Planet Fitness by 964.0% during the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after buying an additional 241 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. SJS Investment Consulting Inc. increased its position in shares of Planet Fitness by 6,950.0% during the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock valued at $44,000 after acquiring an additional 417 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in Planet Fitness in the 2nd quarter worth approximately $53,000. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $135.00 target price on shares of Planet Fitness in a research note on Tuesday, December 9th. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Morgan Stanley lifted their price objective on Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Finally, Canaccord Genuity Group upped their target price on shares of Planet Fitness from $139.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of “Buy” and an average price target of $122.27.

Planet Fitness Stock Performance

Planet Fitness stock opened at $91.72 on Friday. Planet Fitness, Inc. has a one year low of $87.72 and a one year high of $114.47. The stock has a fifty day moving average of $105.60 and a 200 day moving average of $103.85. The stock has a market cap of $7.64 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27.

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

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.