Raymond James Financial Inc. Invests $2.99 Million in Planet Fitness, Inc. (NYSE:PLNT)

Raymond James Financial Inc. bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 30,223 shares of the company's stock, valued at approximately $2,988,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in Planet Fitness in the 4th quarter valued at about $11,963,000. Tidal Investments LLC increased its position in Planet Fitness by 132.5% in the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company's stock valued at $2,352,000 after acquiring an additional 16,503 shares during the period. B. Metzler seel. Sohn & Co. AG acquired a new position in Planet Fitness during the 4th quarter worth about $3,378,000. AMJ Financial Wealth Management bought a new stake in Planet Fitness in the fourth quarter valued at approximately $495,000. Finally, Nkcfo LLC bought a new position in Planet Fitness during the fourth quarter worth $1,088,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Down 0.8 %

PLNT traded down $0.73 during trading on Wednesday, reaching $94.85. The stock had a trading volume of 1,368,546 shares, compared to its average volume of 1,410,730. The stock's 50 day moving average is $95.65 and its two-hundred day moving average is $96.79. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 50.99, a P/E/G ratio of 2.45 and a beta of 1.39. Planet Fitness, Inc. has a one year low of $58.51 and a one year high of $110.00.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. The firm had revenue of $340.50 million during the quarter, compared to analyst estimates of $324.57 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. Planet Fitness's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. On average, equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. DA Davidson restated a "neutral" rating and issued a $87.00 target price on shares of Planet Fitness in a research note on Tuesday, January 21st. Guggenheim raised their target price on Planet Fitness from $105.00 to $110.00 and gave the company a "buy" rating in a report on Monday, April 14th. BMO Capital Markets increased their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Stifel Nicolaus cut their price objective on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. Finally, Piper Sandler boosted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $101.72.

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.