Cetera Trust Company N.A Invests $195,000 in Planet Fitness, Inc. (NYSE:PLNT)

Cetera Trust Company N.A bought a new position in Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,675 shares of the company’s stock, valued at approximately $195,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its holdings in shares of Planet Fitness by 2.4% in the 4th quarter. Handelsbanken Fonder AB now owns 443,781 shares of the company’s stock worth $32,396,000 after purchasing an additional 10,300 shares during the period. Verdence Capital Advisors LLC purchased a new position in shares of Planet Fitness in the 4th quarter worth approximately $201,000. Louisiana State Employees Retirement System purchased a new position in shares of Planet Fitness in the 4th quarter worth approximately $1,752,000. Friedenthal Financial purchased a new position in shares of Planet Fitness in the 4th quarter worth approximately $728,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Planet Fitness by 13.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 563,034 shares of the company’s stock worth $41,101,000 after purchasing an additional 66,026 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLNT. Stifel Nicolaus dropped their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 23rd. Piper Sandler boosted their price objective on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a report on Monday, April 1st. Finally, Royal Bank of Canada boosted their price objective on Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.00.

Planet Fitness Trading Up 0.5 %

Shares of PLNT stock opened at $58.99 on Monday. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 36.22, a P/E/G ratio of 1.91 and a beta of 1.39. Planet Fitness, Inc. has a twelve month low of $44.13 and a twelve month high of $84.48. The stock has a fifty day simple moving average of $62.77 and a two-hundred day simple moving average of $64.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $285.10 million during the quarter, compared to analyst estimates of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Research analysts predict that Planet Fitness, Inc. will post 2.48 EPS 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.