Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,333 shares of the company's stock after acquiring an additional 11,437 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of Planet Fitness worth $17,132,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PLNT. First Horizon Advisors Inc. raised its position in shares of Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock worth $36,000 after purchasing an additional 242 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock worth $48,000 after purchasing an additional 450 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after acquiring an additional 387 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Planet Fitness in the fourth quarter valued at about $51,000. Finally, Lazard Asset Management LLC purchased a new position in Planet Fitness during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Down 2.1%

NYSE:PLNT traded down $2.31 during midday trading on Monday, reaching $110.17. The company had a trading volume of 1,072,092 shares, compared to its average volume of 1,382,688. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 2.50 and a beta of 1.33. The stock's fifty day simple moving average is $105.15 and its 200-day simple moving average is $101.18. Planet Fitness, Inc. has a 12-month low of $68.75 and a 12-month high of $113.15.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its 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). The firm had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a net margin of 14.84% and a negative return on equity of 88.70%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, sell-side analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Upgrades and Downgrades

PLNT has been the subject of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research report on Monday, May 12th. Macquarie reiterated a "neutral" rating and issued a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Stifel Nicolaus set a $120.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, May 22nd. BMO Capital Markets increased their price objective on shares of Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, March 31st. Finally, Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the company a "buy" rating in a research report on Thursday, June 12th. 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 stock. Based on data from MarketBeat, Planet Fitness has an average rating of "Moderate Buy" and a consensus target price of $106.63.

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.