Planet Fitness, Inc. (NYSE:PLNT) Stake Cut by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. cut its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 70.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 recently added to or reduced their stakes in PLNT. PNC Financial Services Group Inc. lifted its stake in Planet Fitness by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after purchasing an additional 157 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Planet Fitness by 801.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after purchasing an additional 1,635 shares during the last quarter. MetLife Investment Management LLC bought a new position in Planet Fitness during the first quarter worth $357,000. BlackRock Inc. lifted its stake in Planet Fitness by 34.8% during the first quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after purchasing an additional 1,852,867 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new position in Planet Fitness during the first quarter worth $919,000. 95.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stifel Nicolaus dropped their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $79.00 target price on shares of Planet Fitness in a research report on Monday, April 1st. StockNews.com raised Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada raised their price target on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Finally, Piper Sandler raised their price target on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $71.00.

Planet Fitness Stock Down 1.6 %

NYSE:PLNT opened at $62.60 on Friday. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $84.48. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 38.64, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The stock has a fifty day simple moving average of $63.85 and a 200 day simple moving average of $63.69.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.60 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 firm had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. During the same period last year, the company posted $0.53 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Planet Fitness, Inc. will post 2.48 earnings per share for the current year.

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.