LPL Financial LLC Has $4.81 Million Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Key Points

• LPL Financial LLC increased its stake in Planet Fitness by 13.9%, acquiring an additional 6,228 shares to hold a total of 50,890 shares valued at $4.81 million.
• Planet Fitness reported a quarterly EPS of $0.86, surpassing the consensus estimate of $0.79, with a year-over-year revenue growth of 13.3% at $340.88 million.
• An average target price of $107.38 has been set for Planet Fitness stock, with the majority of analysts rating it as a "Moderate Buy."

LPL Financial LLC grew its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 13.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,890 shares of the company's stock after acquiring an additional 6,228 shares during the quarter. LPL Financial LLC owned approximately 0.06% of Planet Fitness worth $4,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PLNT. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Planet Fitness by 2.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,754 shares of the company's stock worth $2,102,000 after buying an additional 607 shares during the last quarter. TD Asset Management Inc grew its stake in Planet Fitness by 5.5% during the 1st quarter. TD Asset Management Inc now owns 545,072 shares of the company's stock worth $52,659,000 after buying an additional 28,634 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Planet Fitness by 202.4% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,612 shares of the company's stock worth $156,000 after buying an additional 1,079 shares during the last quarter. Assetmark Inc. grew its stake in Planet Fitness by 102,616.7% during the 1st quarter. Assetmark Inc. now owns 12,326 shares of the company's stock worth $1,191,000 after buying an additional 12,314 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Planet Fitness by 6.4% during the 1st quarter. Cetera Investment Advisers now owns 39,389 shares of the company's stock worth $3,805,000 after buying an additional 2,357 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PLNT has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on Planet Fitness from $111.00 to $112.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Macquarie restated a "neutral" rating and set a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday, May 13th. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Planet Fitness in a research note on Monday, May 12th. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a research report on Thursday, August 7th. Finally, Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.38.

Planet Fitness Stock Up 2.6%

Shares of NYSE PLNT traded up $2.71 during mid-day trading on Friday, hitting $107.55. 1,014,645 shares of the company traded hands, compared to its average volume of 1,500,286. Planet Fitness, Inc. has a 1 year low of $77.77 and a 1 year high of $114.47. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 47.80, a PEG ratio of 2.39 and a beta of 1.40. The business has a 50 day moving average of $107.83 and a two-hundred day moving average of $101.91.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.07. The firm had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%. Planet Fitness's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, research analysts anticipate 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.