Wealth Enhancement Advisory Services LLC Takes Position in Planet Fitness, Inc. (NYSE:PLNT)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,677 shares of the company's stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Planet Fitness by 8.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 290,457 shares of the company's stock worth $28,717,000 after buying an additional 22,687 shares during the period. Tidal Investments LLC grew its position in Planet Fitness by 1.3% during the 4th quarter. Tidal Investments LLC now owns 29,340 shares of the company's stock worth $2,901,000 after acquiring an additional 383 shares during the last quarter. State of Wyoming increased its stake in Planet Fitness by 177.9% in the 4th quarter. State of Wyoming now owns 7,423 shares of the company's stock worth $734,000 after purchasing an additional 4,752 shares during the period. Redwood Investment Management LLC purchased a new position in Planet Fitness in the 4th quarter worth approximately $1,427,000. Finally, ProShare Advisors LLC lifted its position in Planet Fitness by 6.8% in the fourth quarter. ProShare Advisors LLC now owns 3,939 shares of the company's stock valued at $389,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

PLNT has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Roth Mkm reissued a "buy" rating and issued a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $120.00 target price on shares of Planet Fitness in a report on Monday, February 24th. Finally, Macquarie restated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $105.76.

Planet Fitness Stock Performance

Shares of PLNT traded down $2.30 on Tuesday, hitting $102.70. 2,069,558 shares of the stock traded hands, compared to its average volume of 1,381,518. Planet Fitness, Inc. has a one year low of $68.75 and a one year high of $110.00. The company has a market capitalization of $8.65 billion, a PE ratio of 39.77, a P/E/G ratio of 2.33 and a beta of 1.33. The business has a 50 day simple moving average of $99.42 and a 200 day simple moving average of $99.81.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The business had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

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.