South Dakota Investment Council Purchases 15,613 Shares of Planet Fitness, Inc. (NYSE:PLNT)

South Dakota Investment Council grew its position in Planet Fitness, Inc. (NYSE:PLNT) by 60.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,531 shares of the company’s stock after buying an additional 15,613 shares during the period. South Dakota Investment Council’s holdings in Planet Fitness were worth $3,032,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PLNT. Allworth Financial LP boosted its holdings in shares of Planet Fitness by 247.6% in the 4th quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after buying an additional 255 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Planet Fitness in the 4th quarter valued at about $47,000. CWM LLC boosted its holdings in shares of Planet Fitness by 109.5% in the 3rd quarter. CWM LLC now owns 1,460 shares of the company’s stock valued at $72,000 after buying an additional 763 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Planet Fitness by 19.5% in the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after buying an additional 238 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Planet Fitness by 17.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock worth $73,000 after purchasing an additional 148 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLNT shares. Piper Sandler lifted their target price on shares of Planet Fitness from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. Morgan Stanley reiterated an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research note on Monday, April 1st. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Stifel Nicolaus lowered their target price on shares of Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 23rd. Finally, DA Davidson reiterated a “neutral” rating and issued a $62.00 target price on shares of Planet Fitness in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $71.00.

Planet Fitness Price Performance

NYSE:PLNT opened at $61.07 on Thursday. The firm has a market cap of $5.38 billion, a price-to-earnings ratio of 37.70, a price-to-earnings-growth ratio of 1.97 and a beta of 1.39. The company has a 50 day moving average price of $62.43 and a 200-day moving average price of $64.66. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $84.48.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. Planet Fitness had a net margin of 12.91% and a negative return on equity of 120.89%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, sell-side analysts anticipate that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.

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.