VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.77 Million Position in Planet Fitness, Inc. $PLNT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the 2nd quarter, HoldingsChannel reports. The fund acquired 16,230 shares of the company’s stock, valued at approximately $1,770,000.

Several other large investors also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Planet Fitness by 6.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock valued at $812,213,000 after buying an additional 496,047 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock valued at $782,394,000 after buying an additional 62,716 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock valued at $317,810,000 after buying an additional 1,268,262 shares during the last quarter. Ninety One UK Ltd boosted its holdings in shares of Planet Fitness by 35.7% in the 2nd quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company’s stock valued at $314,490,000 after buying an additional 759,227 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock valued at $213,618,000 after buying an additional 1,728,407 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Price Performance

PLNT stock opened at $96.77 on Thursday. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 2.15 and a beta of 1.38. The business’s fifty day moving average price is $101.39 and its two-hundred day moving average price is $102.59. Planet Fitness, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. The firm had revenue of $340.88 million for the quarter, compared to analysts’ expectations of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 EPS. Research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $126.00 price target on shares of Planet Fitness in a report on Monday, September 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a report on Wednesday, October 8th. Finally, UBS Group assumed coverage on Planet Fitness in a report on Friday, October 17th. They set a “buy” rating and a $125.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.50.

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.