Public Employees Retirement System of Ohio Increases Stock Holdings in Planet Fitness Inc (NYSE:PLNT)
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.
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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