Bank of Montreal Can grew its stake in shares of Planet Fitness Inc (NYSE:PLNT) by 1,213.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,881 shares of the company’s stock after purchasing an additional 34,074 shares during the quarter. Bank of Montreal Can’s holdings in Planet Fitness were worth $1,977,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Handelsinvest Investeringsforvaltning acquired a new stake in shares of Planet Fitness during the 4th quarter valued at $2,910,000. Landsberg Bennett & Dubbaneh LLC acquired a new stake in shares of Planet Fitness during the 4th quarter valued at $1,930,000. Nippon Life Global Investors Americas Inc. lifted its position in shares of Planet Fitness by 13.3% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 71,250 shares of the company’s stock valued at $3,820,000 after acquiring an additional 8,390 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of Planet Fitness by 99.3% during the 4th quarter. Meeder Asset Management Inc. now owns 570 shares of the company’s stock valued at $31,000 after acquiring an additional 284 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Planet Fitness during the 4th quarter valued at $227,000. 91.08% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on PLNT. Bank of America restated a “neutral” rating and issued a $68.00 target price (up previously from $62.00) on shares of Planet Fitness in a report on Thursday, December 6th. Macquarie lowered Planet Fitness from an “outperform” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Monday, November 12th. DA Davidson set a $58.00 target price on Planet Fitness and gave the company a “buy” rating in a report on Tuesday, October 16th. Zacks Investment Research lowered Planet Fitness from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Finally, Imperial Capital increased their target price on Planet Fitness from $45.00 to $55.00 and gave the company an “inline” rating in a report on Friday, November 9th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $52.79.
PLNT opened at $57.90 on Tuesday. The firm has a market capitalization of $5.60 billion, a PE ratio of 68.93, a price-to-earnings-growth ratio of 2.05 and a beta of 0.73. Planet Fitness Inc has a 12-month low of $30.32 and a 12-month high of $59.91.
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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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