Sequoia Financial Advisors LLC Makes New $54.38 Million Investment in Planet Fitness, Inc. (NYSE:PLNT)

Sequoia Financial Advisors LLC acquired a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 562,920 shares of the company’s stock, valued at approximately $54,384,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CoreCap Advisors LLC increased its stake in shares of Planet Fitness by 1,250.0% in the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company’s stock valued at $48,000 after purchasing an additional 450 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Planet Fitness by 291.0% in the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock valued at $50,000 after purchasing an additional 387 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Planet Fitness in the 4th quarter valued at $51,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Planet Fitness by 1,139.5% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 533 shares of the company’s stock valued at $53,000 after purchasing an additional 490 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Planet Fitness in the 4th quarter valued at $57,000. Institutional investors own 95.53% of the company’s stock.

Analyst Ratings Changes

PLNT has been the topic of several recent analyst reports. Canaccord Genuity Group set a $126.00 price target on Planet Fitness and gave the company a “buy” rating in a research note on Thursday, June 12th. Stifel Nicolaus set a $120.00 price target on Planet Fitness and gave the company a “buy” rating in a research note on Thursday, May 22nd. Guggenheim reissued a “buy” rating and set a $110.00 price objective on shares of Planet Fitness in a report on Monday, May 12th. BMO Capital Markets raised their price objective on Planet Fitness from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Finally, Roth Mkm reissued a “buy” rating and set a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.63.

Planet Fitness Trading Down 2.4%

Shares of PLNT opened at $105.46 on Thursday. The company has a market capitalization of $8.88 billion, a PE ratio of 49.75, a PEG ratio of 2.40 and a beta of 1.33. Planet Fitness, Inc. has a 12 month low of $68.75 and a 12 month high of $110.95. The stock’s 50-day moving average price is $100.99 and its two-hundred day moving average price is $100.15.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, May 8th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.03). The company had revenue of $276.66 million for the quarter, compared to analyst estimates of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities research analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Planet Fitness 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.