Cetera Advisors LLC lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 568.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,320 shares of the company’s stock after purchasing an additional 21,534 shares during the period. Cetera Advisors LLC’s holdings in Planet Fitness were worth $1,586,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the business. Cetera Investment Advisers lifted its holdings in shares of Planet Fitness by 74.5% during the first quarter. Cetera Investment Advisers now owns 58,699 shares of the company’s stock worth $3,676,000 after purchasing an additional 25,054 shares during the period. Virtu Financial LLC raised its stake in Planet Fitness by 72.2% during the first quarter. Virtu Financial LLC now owns 5,611 shares of the company’s stock worth $351,000 after buying an additional 2,352 shares during the last quarter. Tidal Investments LLC raised its stake in Planet Fitness by 71.3% during the first quarter. Tidal Investments LLC now owns 4,941 shares of the company’s stock worth $309,000 after buying an additional 2,056 shares during the last quarter. Ionic Capital Management LLC bought a new position in Planet Fitness during the first quarter worth $814,000. Finally, Steadfast Capital Management LP raised its stake in Planet Fitness by 97.7% during the first quarter. Steadfast Capital Management LP now owns 1,381,860 shares of the company’s stock worth $86,546,000 after buying an additional 682,863 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on PLNT shares. JPMorgan Chase & Co. lifted their target price on shares of Planet Fitness from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of Planet Fitness from $77.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group raised shares of Planet Fitness from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.00 to $100.00 in a research note on Monday, June 10th. Piper Sandler lifted their price target on shares of Planet Fitness from $80.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Robert W. Baird lifted their price target on shares of Planet Fitness from $88.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $79.87.
Get Our Latest Stock Analysis on PLNT
Planet Fitness Price Performance
Shares of NYSE PLNT opened at $75.75 on Thursday. The stock has a market capitalization of $6.68 billion, a P/E ratio of 43.53, a P/E/G ratio of 2.44 and a beta of 1.49. The company has a 50-day moving average price of $72.57 and a 200-day moving average price of $66.88. Planet Fitness, Inc. has a 1 year low of $44.13 and a 1 year high of $79.10.
Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.
Planet Fitness Profile
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.
See Also
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