Raymond James Financial Services Advisors Inc. Sells 50,000 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Raymond James Financial Services Advisors Inc. decreased its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 70.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,355 shares of the company's stock after selling 50,000 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Planet Fitness were worth $1,559,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PLNT. BlackRock Inc. lifted its position in Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company's stock worth $606,915,000 after buying an additional 1,852,867 shares in the last quarter. Cadian Capital Management LP lifted its position in Planet Fitness by 164.7% during the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company's stock worth $198,860,000 after buying an additional 2,516,007 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Planet Fitness by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,659,856 shares of the company's stock worth $130,812,000 after buying an additional 12,139 shares in the last quarter. State Street Corp lifted its position in Planet Fitness by 78.4% during the 2nd quarter. State Street Corp now owns 2,295,657 shares of the company's stock worth $154,819,000 after buying an additional 1,008,875 shares in the last quarter. Finally, Bares Capital Management Inc. lifted its position in Planet Fitness by 2.4% during the 4th quarter. Bares Capital Management Inc. now owns 2,063,152 shares of the company's stock worth $162,576,000 after buying an additional 48,955 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Performance

NYSE PLNT traded down $1.30 during trading hours on Friday, reaching $61.30. 2,101,036 shares of the company's stock were exchanged, compared to its average volume of 1,627,637. The company's 50-day moving average is $63.70 and its two-hundred day moving average is $63.80. Planet Fitness, Inc. has a one year low of $44.13 and a one year high of $84.48. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 1.28 and a beta of 1.39.

Planet Fitness (NYSE:PLNT - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business had revenue of $285.10 million during the quarter, compared to analysts' expectations of $282.35 million. During the same period in the prior year, the business earned $0.53 EPS. Planet Fitness's revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts predict that Planet Fitness, Inc. will post 2.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

PLNT has been the topic of a number of research reports. Morgan Stanley restated an "overweight" rating and set a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. DA Davidson restated a "neutral" rating and set a $62.00 target price on shares of Planet Fitness in a research report on Monday, February 5th. Stifel Nicolaus cut their target price on shares of Planet Fitness from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, February 23rd. Piper Sandler upped their target price on shares of Planet Fitness from $88.00 to $89.00 and gave the company an "overweight" rating in a research report on Thursday, January 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Planet Fitness from $75.00 to $72.00 and set a "neutral" rating on the stock in a research report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $71.00.

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.