Planet Fitness, Inc. (NYSE:PLNT) Holdings Trimmed by Cetera Investment Advisers

Cetera Investment Advisers reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in shares of Planet Fitness by 48.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,911,081 shares of the company’s stock valued at $782,169,000 after purchasing an additional 2,570,826 shares in the last quarter. Ninety One UK Ltd acquired a new stake in Planet Fitness during the fourth quarter valued at approximately $130,376,000. Norges Bank bought a new stake in Planet Fitness during the fourth quarter worth approximately $100,009,000. Invesco Ltd. grew its position in Planet Fitness by 199.7% in the fourth quarter. Invesco Ltd. now owns 482,732 shares of the company’s stock worth $47,728,000 after buying an additional 321,644 shares during the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of Planet Fitness by 20.3% in the fourth quarter. Anomaly Capital Management LP now owns 1,772,593 shares of the company’s stock valued at $175,256,000 after buying an additional 299,148 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Planet Fitness from $111.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Macquarie reaffirmed a “neutral” rating and set a $95.00 target price on shares of Planet Fitness in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Planet Fitness from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. DA Davidson restated a “neutral” rating and set a $87.00 price objective on shares of Planet Fitness in a report on Tuesday, January 21st. Finally, Stifel Nicolaus decreased their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

Planet Fitness Stock Up 0.1%

Planet Fitness stock opened at $98.02 on Friday. Planet Fitness, Inc. has a 12 month low of $60.56 and a 12 month high of $110.00. The stock has a market cap of $8.30 billion, a P/E ratio of 52.70, a P/E/G ratio of 2.45 and a beta of 1.33. The company’s fifty day simple moving average is $96.35 and its 200-day simple moving average is $98.06.

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

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.