Healthcare of Ontario Pension Plan Trust Fund Takes Position in Planet Fitness, Inc. (NYSE:PLNT)

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

A number of other large investors have also modified their holdings of PLNT. FMR LLC boosted its holdings in Planet Fitness by 666.9% in the 3rd quarter. FMR LLC now owns 795,485 shares of the company's stock worth $64,609,000 after acquiring an additional 691,761 shares during the period. Qsemble Capital Management LP increased its stake in Planet Fitness by 100.6% during the 3rd quarter. Qsemble Capital Management LP now owns 20,972 shares of the company's stock worth $1,703,000 after buying an additional 10,518 shares during the period. Larson Financial Group LLC boosted its position in Planet Fitness by 151,050.0% in the 3rd quarter. Larson Financial Group LLC now owns 3,023 shares of the company's stock valued at $246,000 after buying an additional 3,021 shares during the last quarter. Banco Santander S.A. acquired a new stake in shares of Planet Fitness during the third quarter valued at about $637,000. Finally, Hilton Capital Management LLC purchased a new stake in shares of Planet Fitness during the third quarter worth about $1,688,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Stock Performance

Shares of PLNT traded up $0.04 during midday trading on Monday, hitting $99.59. 825,698 shares of the stock traded hands, compared to its average volume of 1,518,742. Planet Fitness, Inc. has a 1-year low of $54.35 and a 1-year high of $102.81. The business's 50 day moving average price is $86.75 and its two-hundred day moving average price is $78.81. The firm has a market capitalization of $8.42 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 3.31 and a beta of 1.49.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.57 by $0.07. The firm had revenue of $292.20 million during the quarter, compared to analysts' expectations of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, equities research analysts forecast that Planet Fitness, Inc. will post 2.5 EPS for the current fiscal year.

Analysts Set New Price Targets

PLNT has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on Planet Fitness from $70.00 to $75.00 and gave the company a "hold" rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their target price on Planet Fitness from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Morgan Stanley lifted their price target on shares of Planet Fitness from $84.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 29th. Macquarie reiterated a "neutral" rating and set a $99.00 price objective (up from $91.00) on shares of Planet Fitness in a research note on Friday, November 8th. Finally, Bank of America raised their price objective on shares of Planet Fitness from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $93.38.

Insider Activity

In related news, insider Jennifer Simmons sold 11,453 shares of Planet Fitness stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now directly owns 19,110 shares in the company, valued at $1,838,382. The trade was a 37.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.94% of the company's stock.

About Planet Fitness

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.