Public Sector Pension Investment Board Boosts Stock Position in Planet Fitness, Inc. $PLNT

Public Sector Pension Investment Board lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 61.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 58,586 shares of the company’s stock after buying an additional 22,303 shares during the period. Public Sector Pension Investment Board owned 0.07% of Planet Fitness worth $6,081,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Planet Fitness in the second quarter valued at approximately $116,175,000. Ninety One UK Ltd grew its position in Planet Fitness by 20.0% in the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after acquiring an additional 577,637 shares in the last quarter. Squarepoint Ops LLC increased its stake in Planet Fitness by 152.8% during the 2nd quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after buying an additional 514,876 shares during the period. AustralianSuper Pty Ltd purchased a new position in Planet Fitness in the second quarter valued at about $41,428,000. Finally, Invesco Ltd. grew its position in shares of Planet Fitness by 15.0% during the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after buying an additional 332,362 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. Macquarie Infrastructure cut their price objective on Planet Fitness from $112.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, January 29th. William Blair reiterated an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Finally, Morgan Stanley increased their price target on shares of Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $122.27.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $93.87 on Thursday. Planet Fitness, Inc. has a 52-week low of $87.44 and a 52-week high of $114.47. The firm has a market capitalization of $7.82 billion, a PE ratio of 38.32, a price-to-earnings-growth ratio of 1.41 and a beta of 1.26. The company’s fifty day moving average price is $100.46 and its two-hundred day moving average price is $101.90.

About Planet Fitness

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.