Planet Fitness, Inc. (NYSE:PLNT) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,389 shares of the company's stock after acquiring an additional 2,357 shares during the quarter. Cetera Investment Advisers' holdings in Planet Fitness were worth $3,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oak Thistle LLC raised its position in shares of Planet Fitness by 39.2% in the first quarter. Oak Thistle LLC now owns 26,561 shares of the company's stock valued at $2,566,000 after buying an additional 7,483 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Planet Fitness during the 1st quarter worth $3,874,000. IFP Advisors Inc grew its position in shares of Planet Fitness by 3,783.9% in the first quarter. IFP Advisors Inc now owns 1,204 shares of the company's stock valued at $116,000 after purchasing an additional 1,173 shares during the period. Csenge Advisory Group acquired a new position in Planet Fitness in the first quarter valued at $596,000. Finally, Fortis Group Advisors LLC boosted its stake in Planet Fitness by 26.5% in the 1st quarter. Fortis Group Advisors LLC now owns 4,045 shares of the company's stock worth $391,000 after buying an additional 847 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PLNT shares. Guggenheim reissued a "buy" rating and issued a $110.00 target price on shares of Planet Fitness in a research report on Monday, May 12th. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley increased their price target on Planet Fitness from $111.00 to $112.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Macquarie reiterated a "neutral" rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of "Moderate Buy" and a consensus target price of $107.38.

Planet Fitness Price Performance

Shares of PLNT traded down $0.78 during trading hours on Thursday, reaching $105.35. 2,520,501 shares of the company's stock traded hands, compared to its average volume of 1,530,936. Planet Fitness, Inc. has a twelve month low of $76.15 and a twelve month high of $114.47. The business's fifty day simple moving average is $107.60 and its two-hundred day simple moving average is $101.92. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 49.69, a P/E/G ratio of 2.44 and a beta of 1.40.

Planet Fitness (NYSE:PLNT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.07. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The firm had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. During the same period in the previous year, the company earned $0.71 earnings per share. Planet Fitness's revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Planet Fitness Company 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.