24,500 Shares in Planet Fitness, Inc. (NYSE:PLNT) Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Planet Fitness, Inc. (NYSE:PLNT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,500 shares of the company’s stock, valued at approximately $1,990,000.

Other large investors have also bought and sold shares of the company. Quest Partners LLC grew its position in shares of Planet Fitness by 126.0% in the 3rd quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after buying an additional 5,298 shares during the period. Premier Fund Managers Ltd purchased a new stake in Planet Fitness in the third quarter worth about $775,000. Qsemble Capital Management LP lifted its holdings in shares of Planet Fitness by 100.6% during the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock valued at $1,703,000 after purchasing an additional 10,518 shares during the last quarter. Banco Santander S.A. purchased a new position in shares of Planet Fitness during the third quarter valued at approximately $637,000. Finally, Fifth Third Bancorp boosted its position in shares of Planet Fitness by 60.2% in the 2nd quarter. Fifth Third Bancorp now owns 191,903 shares of the company’s stock worth $14,122,000 after purchasing an additional 72,131 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Insider Activity at Planet Fitness

In other news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares in the company, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PLNT shares. Macquarie reiterated a “neutral” rating and set a $99.00 price objective (up previously from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Royal Bank of Canada lifted their price target on Planet Fitness from $87.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. BNP Paribas upgraded shares of Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price objective for the company in a research note on Thursday, September 5th. Finally, Raymond James upped their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.38.

Planet Fitness Price Performance

PLNT stock opened at $99.55 on Monday. Planet Fitness, Inc. has a 1 year low of $54.35 and a 1 year high of $102.81. The company has a market cap of $8.42 billion, a P/E ratio of 53.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.49. The stock’s fifty day moving average price is $86.75 and its 200-day moving average price is $78.73.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) 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 business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. During the same period in the previous year, the company posted $0.59 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts expect that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Planet Fitness 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.