Cetera Investment Advisers Trims Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Cetera Investment Advisers trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 11.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,032 shares of the company's stock after selling 4,916 shares during the period. Cetera Investment Advisers' holdings in Planet Fitness were worth $3,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Planet Fitness in the fourth quarter valued at about $39,000. UMB Bank n.a. lifted its position in shares of Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after buying an additional 157 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $51,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Planet Fitness by 1,139.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company's stock worth $53,000 after buying an additional 490 shares in the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new stake in shares of Planet Fitness in the fourth quarter worth about $202,000. Institutional investors own 95.53% of the company's stock.

Planet Fitness Stock Up 0.8%

Shares of NYSE:PLNT traded up $0.78 during trading on Wednesday, reaching $104.19. 195,604 shares of the company's stock traded hands, compared to its average volume of 1,396,331. Planet Fitness, Inc. has a fifty-two week low of $60.56 and a fifty-two week high of $110.00. The firm has a market cap of $8.77 billion, a PE ratio of 56.02, a P/E/G ratio of 2.45 and a beta of 1.33. The company has a 50-day simple moving average of $96.85 and a 200-day simple moving average of $98.66.

Planet Fitness (NYSE:PLNT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.62 by ($0.03). The company had revenue of $276.66 million during the quarter, compared to analysts' expectations of $279.80 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. On average, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

PLNT has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Morgan Stanley boosted 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. DA Davidson reissued a "neutral" rating and set a $87.00 price objective on shares of Planet Fitness in a research note on Tuesday, January 21st. Macquarie restated a "neutral" rating and set a $95.00 target price on shares of Planet Fitness in a report on Tuesday, May 13th. Finally, Canaccord Genuity Group initiated coverage on Planet Fitness in a report on Thursday, March 13th. They set a "buy" rating and a $120.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.00.

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.