IFP Advisors Inc Cuts Position in Planet Fitness, Inc. $PLNT

IFP Advisors Inc decreased its position in Planet Fitness, Inc. (NYSE:PLNT) by 32.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 809 shares of the company’s stock after selling 395 shares during the quarter. IFP Advisors Inc’s holdings in Planet Fitness were worth $88,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC purchased a new stake in Planet Fitness in the second quarter valued at approximately $25,000. Brooklyn Investment Group raised its position in Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock valued at $31,000 after purchasing an additional 118 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Planet Fitness by 187.6% in the first quarter. First Horizon Advisors Inc. now owns 371 shares of the company’s stock worth $36,000 after acquiring an additional 242 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Planet Fitness by 291.0% in the first quarter. Farther Finance Advisors LLC now owns 520 shares of the company’s stock worth $50,000 after acquiring an additional 387 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Planet Fitness in the first quarter worth $65,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Up 1.7%

Shares of PLNT stock opened at $94.20 on Monday. The firm has a fifty day moving average price of $102.00 and a 200 day moving average price of $102.65. The company has a market cap of $7.93 billion, a P/E ratio of 41.87, a PEG ratio of 2.09 and a beta of 1.38. Planet Fitness, Inc. has a 12 month low of $77.77 and a 12 month high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. The firm had revenue of $340.88 million during the quarter, compared to the consensus estimate of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

PLNT has been the subject of several research reports. UBS Group initiated coverage on shares of Planet Fitness in a research note on Friday. They issued a “buy” rating and a $125.00 price target for the company. Canaccord Genuity Group restated a “buy” rating and issued a $126.00 price target on shares of Planet Fitness in a research note on Monday, September 15th. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Planet Fitness in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Planet Fitness has a consensus rating of “Moderate Buy” and an average price target of $112.50.

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.