California Public Employees Retirement System lessened its stake in Planet Fitness Inc (NYSE:PLNT) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,035 shares of the company’s stock after selling 4,400 shares during the quarter. California Public Employees Retirement System owned about 0.10% of Planet Fitness worth $5,149,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC raised its stake in Planet Fitness by 79.0% during the third quarter. FMR LLC now owns 4,524,429 shares of the company’s stock worth $244,456,000 after acquiring an additional 1,997,286 shares in the last quarter. Marshall Wace LLP acquired a new position in Planet Fitness during the third quarter worth about $55,238,000. Capital International Investors acquired a new position in Planet Fitness during the third quarter worth about $35,120,000. Renaissance Technologies LLC raised its stake in Planet Fitness by 183.6% during the third quarter. Renaissance Technologies LLC now owns 916,600 shares of the company’s stock worth $49,524,000 after acquiring an additional 593,400 shares in the last quarter. Finally, Artemis Investment Management LLP raised its stake in Planet Fitness by 34.7% during the third quarter. Artemis Investment Management LLP now owns 1,632,687 shares of the company’s stock worth $88,190,000 after acquiring an additional 420,233 shares in the last quarter. 90.15% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Dorvin D. Lively sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $63.52, for a total value of $6,352,000.00. Following the sale, the chief financial officer now directly owns 98,883 shares in the company, valued at $6,281,048.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher Rondeau sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $60.53, for a total value of $363,180.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 466,291 shares of company stock worth $29,813,238. Company insiders own 16.38% of the company’s stock.

Several brokerages have commented on PLNT. Zacks Investment Research raised Planet Fitness from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, January 1st. Bank of America reissued a “neutral” rating and set a $68.00 target price (up previously from $62.00) on shares of Planet Fitness in a research note on Thursday, December 6th. ValuEngine cut Planet Fitness from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Wedbush boosted their price target on Planet Fitness from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 27th. Finally, Roth Capital boosted their price target on Planet Fitness from $55.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $58.36.

NYSE:PLNT opened at $67.77 on Friday. The stock has a market cap of $6.24 billion, a PE ratio of 55.55, a PEG ratio of 2.33 and a beta of 0.71. Planet Fitness Inc has a 1-year low of $35.92 and a 1-year high of $67.93.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, February 26th. The company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The company had revenue of $174.40 million for the quarter, compared to analysts’ expectations of $173.76 million. Planet Fitness had a negative return on equity of 67.65% and a net margin of 15.36%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. On average, research analysts anticipate that Planet Fitness Inc will post 1.54 EPS for the current year.

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About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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