Public Employees Retirement System of Ohio increased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 94.2% during the first quarter, Holdings Channel reports. The institutional investor owned 87,129 shares of the company’s stock after buying an additional 42,254 shares during the period. Public Employees Retirement System of Ohio’s holdings in Planet Fitness were worth $1,679,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in shares of Planet Fitness by 11.1% in the first quarter. Alliancebernstein L.P. now owns 5,948,306 shares of the company’s stock valued at $114,624,000 after buying an additional 593,265 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Planet Fitness by 40.6% in the first quarter. Vanguard Group Inc. now owns 4,977,283 shares of the company’s stock valued at $95,913,000 after buying an additional 1,436,427 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Planet Fitness by 226.0% in the first quarter. Bank of New York Mellon Corp now owns 4,878,148 shares of the company’s stock valued at $94,002,000 after buying an additional 3,381,810 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Planet Fitness by 12.0% in the first quarter. Eagle Asset Management Inc. now owns 3,176,688 shares of the company’s stock valued at $61,214,000 after buying an additional 340,455 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Planet Fitness by 100.8% in the first quarter. Jennison Associates LLC now owns 2,653,219 shares of the company’s stock valued at $51,128,000 after buying an additional 1,331,660 shares during the last quarter. Institutional investors own 94.55% of the company’s stock.
Shares of Planet Fitness, Inc. (PLNT) opened at 22.76 on Wednesday. The stock’s 50 day moving average is $22.83 and its 200 day moving average is $21.05. Planet Fitness, Inc. has a 1-year low of $18.32 and a 1-year high of $25.10. The company has a market cap of $1.65 billion, a P/E ratio of 42.30 and a beta of 0.93.
Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $91.10 million during the quarter, compared to analysts’ expectations of $91.33 million. Planet Fitness had a net margin of 6.99% and a negative return on equity of 79.66%. On average, analysts predict that Planet Fitness, Inc. will post $0.47 earnings per share for the current year.
Several brokerages have issued reports on PLNT. BidaskClub raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Wednesday, July 12th. Jefferies Group LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Planet Fitness in a research note on Monday, April 3rd. Guggenheim reissued a “buy” rating and issued a $24.00 price objective on shares of Planet Fitness in a research note on Monday, April 24th. Finally, Imperial Capital raised their price objective on shares of Planet Fitness from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, May 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $25.09.
In related news, Director Charles Esserman sold 16,085,510 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $20.28, for a total transaction of $326,214,142.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Rondeau sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $20.19, for a total transaction of $403,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,125,510 shares of company stock valued at $327,023,543 in the last ninety days. 19.87% of the stock is currently owned by corporate insiders.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three 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, the Dominican Republic and Canada.
Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNT).
Receive News & Ratings for Planet Fitness Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
