Police & Firemen s Retirement System of New Jersey Has $3.49 Million Holdings in Planet Fitness, Inc. $PLNT

Police & Firemen s Retirement System of New Jersey raised its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 4.2% during the second quarter, HoldingsChannel.com reports. The fund owned 32,033 shares of the company’s stock after purchasing an additional 1,288 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Planet Fitness were worth $3,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Planet Fitness by 18.8% during the 1st quarter. CWM LLC now owns 1,863 shares of the company’s stock valued at $180,000 after purchasing an additional 295 shares during the last quarter. Signaturefd LLC boosted its position in Planet Fitness by 253.9% in the first quarter. Signaturefd LLC now owns 2,028 shares of the company’s stock valued at $196,000 after buying an additional 1,455 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Planet Fitness by 304.2% during the first quarter. Victory Capital Management Inc. now owns 64,294 shares of the company’s stock worth $6,211,000 after acquiring an additional 48,389 shares during the last quarter. Verdence Capital Advisors LLC raised its position in shares of Planet Fitness by 25.5% during the first quarter. Verdence Capital Advisors LLC now owns 3,805 shares of the company’s stock worth $368,000 after acquiring an additional 772 shares during the last quarter. Finally, Csenge Advisory Group acquired a new position in shares of Planet Fitness in the first quarter worth approximately $596,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Down 1.2%

Shares of NYSE:PLNT opened at $105.78 on Monday. Planet Fitness, Inc. has a 1-year low of $87.72 and a 1-year high of $114.47. The stock has a market cap of $8.81 billion, a PE ratio of 43.17, a price-to-earnings-growth ratio of 2.36 and a beta of 1.37. The stock’s fifty day simple moving average is $98.90 and its two-hundred day simple moving average is $103.16.

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLNT. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their target price on shares of Planet Fitness from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus upped their price target on shares of Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Morgan Stanley boosted their price objective on Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.54.

About Planet Fitness

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.