Oppenheimer Asset Management Inc. Raises Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Oppenheimer Asset Management Inc. lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 64.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,767 shares of the company's stock after purchasing an additional 4,221 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Planet Fitness were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Friedenthal Financial purchased a new stake in shares of Planet Fitness in the first quarter valued at approximately $76,000. State of Alaska Department of Revenue increased its position in shares of Planet Fitness by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 9,865 shares of the company's stock valued at $953,000 after buying an additional 265 shares in the last quarter. Chicago Capital LLC increased its position in shares of Planet Fitness by 35.3% in the first quarter. Chicago Capital LLC now owns 10,154 shares of the company's stock valued at $981,000 after buying an additional 2,651 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Planet Fitness in the first quarter valued at approximately $206,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Planet Fitness by 15.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,095 shares of the company's stock valued at $299,000 after buying an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Up 0.8%

PLNT traded up $0.83 during mid-day trading on Friday, hitting $108.73. 3,101,460 shares of the stock were exchanged, compared to its average volume of 1,388,128. The firm's fifty day moving average is $101.56 and its two-hundred day moving average is $100.26. Planet Fitness, Inc. has a 1-year low of $68.75 and a 1-year high of $110.95. The company has a market cap of $9.15 billion, a PE ratio of 51.29, a PEG ratio of 2.41 and a beta of 1.33.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) 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 firm had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. During the same period in the previous year, the company posted $0.53 EPS. Planet Fitness's revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.