California Public Employees Retirement System Buys 36,286 Shares of Planet Fitness, Inc. (NYSE:PLNT)
California Public Employees Retirement System increased its stake in Planet Fitness, Inc. (NYSE:PLNT – Get Rating) by 22.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 195,281 shares of the company’s stock after purchasing an additional 36,286 shares during the quarter. California Public Employees Retirement System owned approximately 0.21% of Planet Fitness worth $11,260,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Sandy Spring Bank raised its holdings in Planet Fitness by 25.0% in the 3rd quarter. Sandy Spring Bank now owns 2,500 shares of the company’s stock worth $144,000 after purchasing an additional 500 shares during the period. Xponance Inc. raised its holdings in Planet Fitness by 11.0% in the 2nd quarter. Xponance Inc. now owns 7,586 shares of the company’s stock worth $516,000 after purchasing an additional 754 shares during the period. Eagle Asset Management Inc. raised its holdings in Planet Fitness by 14.5% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,149,179 shares of the company’s stock worth $78,155,000 after purchasing an additional 145,821 shares during the period. Teca Partners LP bought a new position in Planet Fitness in the 2nd quarter worth $1,306,000. Finally, FMR LLC raised its holdings in Planet Fitness by 9.0% in the 2nd quarter. FMR LLC now owns 1,653,529 shares of the company’s stock worth $112,457,000 after purchasing an additional 136,191 shares during the period. 94.56% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on PLNT. Cowen raised their target price on Planet Fitness from $80.00 to $90.00 in a report on Wednesday, November 16th. Cowen raised their price target on Planet Fitness from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, November 16th. Piper Sandler raised their price target on Planet Fitness from $79.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, December 22nd. Raymond James raised their price target on Planet Fitness from $84.00 to $92.00 in a report on Wednesday, November 16th. Finally, DA Davidson raised their price target on Planet Fitness from $90.00 to $99.00 and gave the company a “buy” rating in a report on Friday, November 11th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $93.77.
Planet Fitness Trading Up 1.4 %
PLNT opened at $84.18 on Thursday. The firm has a market cap of $7.54 billion, a P/E ratio of 100.21, a P/E/G ratio of 1.25 and a beta of 1.26. Planet Fitness, Inc. has a 12 month low of $54.15 and a 12 month high of $96.44. The stock has a 50-day moving average of $80.31 and a 200 day moving average of $72.91.
About Planet Fitness
Planet Fitness, Inc engages in the operation and franchising of fitness centers. It operates through the following segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment includes operations related to the company’s franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia.
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