Public Employees Retirement System of Ohio Sells 1,587 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Public Employees Retirement System of Ohio decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,212 shares of the company’s stock after selling 1,587 shares during the period. Public Employees Retirement System of Ohio’s holdings in Planet Fitness were worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PLNT. LRI Investments LLC boosted its position in shares of Planet Fitness by 61.2% in the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares during the period. Quarry LP boosted its holdings in Planet Fitness by 174.7% in the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after buying an additional 318 shares during the period. V Square Quantitative Management LLC boosted its holdings in Planet Fitness by 69.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after buying an additional 201 shares during the period. GAMMA Investing LLC increased its stake in Planet Fitness by 396.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after buying an additional 1,516 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Planet Fitness during the second quarter valued at about $200,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Macquarie reaffirmed a “neutral” rating and issued a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. DA Davidson increased their price objective on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Morgan Stanley lifted their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Bank of America upped their target price on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Planet Fitness in a research note on Friday, September 27th. They set a “hold” rating and a $71.00 target price for the company. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.38.

Planet Fitness Stock Down 1.3 %

PLNT stock opened at $99.02 on Tuesday. Planet Fitness, Inc. has a twelve month low of $54.35 and a twelve month high of $102.88. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 53.24, a price-to-earnings-growth ratio of 3.33 and a beta of 1.53. The firm’s fifty day simple moving average is $90.66 and its two-hundred day simple moving average is $81.64.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data 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. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company had revenue of $292.20 million for the quarter, compared to analyst estimates of $283.79 million. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jennifer Simmons sold 11,453 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value 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. The trade was a 37.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.94% of the company’s stock.

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.