Public Employees Retirement Association of Colorado purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 525,200 shares of the company’s stock, valued at approximately $14,170,000. Public Employees Retirement Association of Colorado owned approximately 0.61% of Planet Fitness at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new position in shares of Planet Fitness during the first quarter valued at $136,000. D.A. Davidson & CO. bought a new position in shares of Planet Fitness during the second quarter valued at $145,000. Ameritas Investment Partners Inc. increased its holdings in Planet Fitness by 234.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,399 shares of the company’s stock worth $173,000 after buying an additional 5,189 shares in the last quarter. Fortaleza Asset Management Inc. increased its holdings in Planet Fitness by 57.9% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 7,830 shares of the company’s stock worth $183,000 after buying an additional 2,870 shares in the last quarter. Finally, Trellus Management Company LLC bought a new stake in Planet Fitness in the 2nd quarter worth about $233,000.
In other Planet Fitness news, CEO Christopher Rondeau sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $25.87, for a total value of $517,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Richard L. Moore sold 1,640 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $27.00, for a total value of $44,280.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,640 shares in the company, valued at $44,280. The disclosure for this sale can be found here. Insiders sold 81,640 shares of company stock worth $2,158,080 over the last three months. Insiders own 19.87% of the company’s stock.
Planet Fitness, Inc. (NYSE:PLNT) opened at $26.82 on Friday. The stock has a market capitalization of $2.58 billion, a PE ratio of 34.08, a PEG ratio of 1.86 and a beta of 0.84. The company has a quick ratio of 1.28, a current ratio of 1.29 and a debt-to-equity ratio of -4.46.
Planet Fitness (NYSE:PLNT) last announced its earnings results on Wednesday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $107.31 million for the quarter, compared to analysts’ expectations of $101.99 million. Planet Fitness had a negative return on equity of 57.01% and a net margin of 8.77%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. analysts anticipate that Planet Fitness, Inc. will post 0.78 EPS for the current fiscal year.
Several equities research analysts recently commented on PLNT shares. BidaskClub downgraded Planet Fitness from a “hold” rating to a “sell” rating in a report on Sunday, July 9th. Zacks Investment Research upgraded Planet Fitness from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Wednesday, July 12th. Roth Capital set a $23.00 price objective on Planet Fitness and gave the stock a “buy” rating in a report on Thursday, August 10th. Cowen and Company reiterated an “outperform” rating and issued a $28.00 price objective (up from $23.00) on shares of Planet Fitness in a report on Thursday, August 10th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $29.00 price objective (up from $26.00) on shares of Planet Fitness in a report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Planet Fitness has a consensus rating of “Buy” and a consensus price target of $28.00.
About Planet Fitness
Planet Fitness, Inc is a franchisor and operator of fitness centers in the United States. The Company operates through three segments: Franchise; Corporate-owned stores, and Equipment. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, the Dominican Republic and Canada.
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