Healthcare of Ontario Pension Plan Trust Fund Makes New $1.99 Million Investment in Planet Fitness, Inc. (NYSE:PLNT)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Planet Fitness, Inc. (NYSE:PLNT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 24,500 shares of the company’s stock, valued at approximately $1,990,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLNT. GAMMA Investing LLC grew its holdings in Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $28,000 after buying an additional 316 shares in the last quarter. LRI Investments LLC grew its stake in Planet Fitness by 61.2% during the second quarter. LRI Investments LLC now owns 403 shares of the company’s stock valued at $30,000 after acquiring an additional 153 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after acquiring an additional 201 shares during the period. Quarry LP increased its holdings in Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 318 shares during the period. Finally, Dnca Finance purchased a new stake in Planet Fitness in the 2nd quarter worth approximately $82,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

Shares of PLNT stock opened at $99.55 on Monday. The business has a 50-day moving average of $86.75 and a 200 day moving average of $78.73. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.81. The stock has a market capitalization of $8.42 billion, a PE ratio of 53.52, a P/E/G ratio of 3.31 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $292.20 million during the quarter, compared to analyst estimates of $283.79 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Planet Fitness, Inc. will post 2.5 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 price target on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Bank of America upped their price objective 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. Raymond James lifted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus increased their price target on shares of Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.38.

Insiders Place Their Bets

In other Planet Fitness news, insider Jennifer Simmons sold 11,453 shares of the company’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 transaction of $1,101,778.60. Following the completion of the transaction, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. This represents a 37.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.94% of the company’s stock.

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.