Teachers Retirement System of The State of Kentucky Cuts Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.8% in the third quarter, Holdings Channel reports. The institutional investor owned 26,959 shares of the company’s stock after selling 770 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Planet Fitness were worth $2,190,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new stake in shares of Planet Fitness in the second quarter worth $166,978,000. Anomaly Capital Management LP purchased a new stake in Planet Fitness during the 2nd quarter valued at about $106,795,000. Point72 Asset Management L.P. grew its position in 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 valued at $96,985,000 after purchasing an additional 829,509 shares during the last quarter. FMR LLC increased its stake in Planet Fitness by 666.9% during the 3rd quarter. FMR LLC now owns 795,485 shares of the company’s stock valued at $64,609,000 after purchasing an additional 691,761 shares in the last quarter. Finally, Dorsal Capital Management LP raised its holdings in Planet Fitness by 7.7% in the second quarter. Dorsal Capital Management LP now owns 2,907,193 shares of the company’s stock worth $213,940,000 after buying an additional 207,193 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares in the company, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.94% of the stock is currently owned by company insiders.

Planet Fitness Stock Down 1.3 %

PLNT stock opened at $99.02 on Tuesday. The business’s 50-day moving average price is $90.66 and its 200-day moving average price is $81.64. The stock has a market cap of $8.38 billion, a P/E ratio of 53.24, a PEG ratio of 3.33 and a beta of 1.53. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.88.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PLNT. Bank of America raised their price target on shares of Planet Fitness from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Raymond James upped their price target on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. DA Davidson lifted their price objective on Planet Fitness from $70.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Finally, Stifel Nicolaus upped their target price on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Wednesday, October 16th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.38.

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.