Cetera Investment Advisers grew its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 74.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,699 shares of the company’s stock after acquiring an additional 25,054 shares during the quarter. Cetera Investment Advisers owned about 0.07% of Planet Fitness worth $3,676,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in PLNT. Dimensional Fund Advisors LP boosted its holdings in shares of Planet Fitness by 17.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock worth $65,549,000 after buying an additional 133,541 shares during the last quarter. Broad Bay Capital Management LP boosted its holdings in shares of Planet Fitness by 15.4% in the fourth quarter. Broad Bay Capital Management LP now owns 1,223,000 shares of the company’s stock worth $89,279,000 after buying an additional 163,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Planet Fitness by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock worth $511,976,000 after buying an additional 97,823 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Planet Fitness by 24.9% in the first quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock worth $14,335,000 after buying an additional 45,623 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in shares of Planet Fitness in the first quarter worth approximately $1,786,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Roth Mkm raised their price objective on shares of Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $87.00 target price (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday. Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. JPMorgan Chase & Co. raised 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. Finally, DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a research note on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.87.
Read Our Latest Analysis on PLNT
Planet Fitness Trading Up 1.0 %
Shares of PLNT traded up $0.80 during trading hours on Friday, reaching $79.04. 2,469,125 shares of the company traded hands, compared to its average volume of 1,695,920. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 45.43, a PEG ratio of 2.44 and a beta of 1.49. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $79.53. The stock’s fifty day moving average price is $73.22 and its 200 day moving average price is $67.00.
Planet Fitness (NYSE:PLNT – Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $300.94 million during the quarter, compared to analyst estimates of $290.17 million. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 earnings per share. On average, research analysts forecast that Planet Fitness, Inc. will post 2.43 earnings per share for the current year.
Insider Activity at Planet Fitness
In related news, CAO Brian O’donnell sold 6,424 shares of Planet Fitness stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total value of $497,153.36. Following the completion of the sale, the chief accounting officer now directly owns 6,778 shares in the company, valued at $524,549.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.94% of the stock is currently owned by corporate insiders.
About Planet Fitness
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.
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