E. Ohman J or Asset Management AB lifted its position in Planet Fitness, Inc. (NYSE:PLNT – Free Report) 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.
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.
View Our Latest Stock Analysis on PLNT
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.
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