E. Ohman J or Asset Management AB Raises Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

E. Ohman J or Asset Management AB lifted its position in Planet Fitness, Inc. (NYSE:PLNT) by 5.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,013 shares of the company’s stock after buying an additional 1,500 shares during the period. E. Ohman J or Asset Management AB’s holdings in Planet Fitness were worth $2,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLNT. Assenagon Asset Management S.A. grew its position in Planet Fitness by 202.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 45,928 shares of the company’s stock worth $3,730,000 after purchasing an additional 30,736 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Planet Fitness by 3.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 51,125 shares of the company’s stock worth $4,152,000 after purchasing an additional 1,531 shares during the last quarter. Whittier Trust Co. grew its position in Planet Fitness by 5.0% during the 3rd quarter. Whittier Trust Co. now owns 97,269 shares of the company’s stock worth $7,900,000 after purchasing an additional 4,588 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Planet Fitness in the 3rd quarter valued at $747,000. Finally, Accurate Wealth Management LLC boosted its holdings in shares of Planet Fitness by 25.5% in the 3rd quarter. Accurate Wealth Management LLC now owns 7,819 shares of the company’s stock valued at $647,000 after acquiring an additional 1,591 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Up 3.5 %

Shares of NYSE PLNT opened at $81.79 on Friday. The firm has a 50-day simple moving average of $81.30 and a 200-day simple moving average of $73.26. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 47.01, a price-to-earnings-growth ratio of 2.68 and a beta of 1.49. Planet Fitness, Inc. has a 52 week low of $53.31 and a 52 week high of $85.08.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. Planet Fitness had a net margin of 14.16% and a negative return on equity of 121.99%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. As a group, equities research analysts expect that Planet Fitness, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLNT shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Planet Fitness in a report on Friday, September 27th. They issued a “hold” rating and a $71.00 price objective on the stock. Roth Mkm upped their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $87.00 price objective (up from $80.00) on shares of Planet Fitness in a report on Wednesday, August 7th. Piper Sandler upped their price objective on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Stifel Nicolaus upped their price objective on shares of Planet Fitness from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Four equities research 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 stock. Based on data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $85.27.

Insider Activity

In related news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the sale, the chief accounting officer now owns 6,778 shares of the company’s stock, valued at approximately $524,549.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company 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.