Meeder Asset Management Inc. lifted its holdings in Planet Fitness Inc (NYSE:PLNT) by 99.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 570 shares of the company’s stock after purchasing an additional 284 shares during the quarter. Meeder Asset Management Inc.’s holdings in Planet Fitness were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of PLNT. FMR LLC raised its stake in shares of Planet Fitness by 407.9% in the second quarter. FMR LLC now owns 2,527,143 shares of the company’s stock worth $111,043,000 after purchasing an additional 2,029,530 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Planet Fitness by 587.6% in the third quarter. American Century Companies Inc. now owns 1,942,277 shares of the company’s stock worth $104,941,000 after purchasing an additional 1,659,806 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Planet Fitness in the third quarter worth $55,238,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Planet Fitness in the third quarter worth $41,917,000. Finally, Capital International Investors purchased a new position in shares of Planet Fitness in the third quarter worth $35,120,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.
Planet Fitness stock opened at $58.97 on Friday. Planet Fitness Inc has a one year low of $32.15 and a one year high of $59.91. The firm has a market cap of $5.70 billion, a P/E ratio of 70.21, a PEG ratio of 2.09 and a beta of 0.73.
Several research analysts have recently weighed in on PLNT shares. Zacks Investment Research cut Planet Fitness from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Bank of America upped their price objective on Planet Fitness from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, November 7th. Imperial Capital upped their price objective on Planet Fitness from $45.00 to $55.00 and gave the company an “inline” rating in a research report on Friday, November 9th. Finally, Macquarie cut Planet Fitness from an “outperform” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research report on Monday, November 12th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Planet Fitness has a consensus rating of “Buy” and an average price target of $52.79.
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About Planet Fitness
Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness name. It operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, the Dominican Republic, and Panama.
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