Public Employees Retirement System of Ohio raised its stake in Planet Fitness Inc (NYSE:PLNT) by 268.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,575 shares of the company’s stock after purchasing an additional 48,517 shares during the period. Public Employees Retirement System of Ohio owned 0.07% of Planet Fitness worth $4,823,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PLNT. Bank of Montreal Can boosted its holdings in shares of Planet Fitness by 157.1% in the second quarter. Bank of Montreal Can now owns 486 shares of the company’s stock valued at $35,000 after acquiring an additional 297 shares during the period. Synovus Financial Corp boosted its holdings in shares of Planet Fitness by 228.3% in the first quarter. Synovus Financial Corp now owns 719 shares of the company’s stock valued at $49,000 after acquiring an additional 500 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Planet Fitness in the second quarter valued at approximately $80,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Planet Fitness in the second quarter valued at approximately $94,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Planet Fitness in the second quarter valued at approximately $120,000. Institutional investors own 90.40% of the company’s stock.

Shares of NYSE PLNT traded down $1.65 during mid-day trading on Friday, hitting $62.58. 21,891 shares of the company were exchanged, compared to its average volume of 1,397,420. The stock has a 50 day simple moving average of $71.45 and a 200-day simple moving average of $72.49. Planet Fitness Inc has a 1-year low of $44.97 and a 1-year high of $81.90. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 51.42, a price-to-earnings-growth ratio of 1.89 and a beta of 0.64.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Planet Fitness had a negative return on equity of 46.45% and a net margin of 16.29%. The firm had revenue of $181.66 million during the quarter, compared to the consensus estimate of $167.91 million. During the same period last year, the company earned $0.34 earnings per share. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. On average, equities analysts anticipate that Planet Fitness Inc will post 1.57 EPS for the current year.

PLNT has been the subject of several research analyst reports. Roth Capital increased their price objective on Planet Fitness from $80.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Imperial Capital reissued an “in-line” rating and issued a $72.50 price objective (up from $55.00) on shares of Planet Fitness in a report on Friday, August 9th. Berenberg Bank downgraded Planet Fitness from a “buy” rating to a “hold” rating and decreased their price objective for the company from $80.00 to $69.00 in a report on Tuesday, September 3rd. ValuEngine downgraded Planet Fitness from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Finally, Raymond James initiated coverage on Planet Fitness in a report on Wednesday, June 26th. They issued an “outperform” rating and a $80.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $75.61.

Planet Fitness Profile

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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