Arkadios Wealth Advisors Acquires 2,305 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Arkadios Wealth Advisors boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 26.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,984 shares of the company’s stock after acquiring an additional 2,305 shares during the quarter. Arkadios Wealth Advisors’ holdings in Planet Fitness were worth $1,086,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PLNT. Tidal Investments LLC grew its position in Planet Fitness by 132.5% during the third quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after acquiring an additional 16,503 shares during the last quarter. State Street Corp grew its holdings in shares of Planet Fitness by 1.5% during the 3rd quarter. State Street Corp now owns 2,524,764 shares of the company’s stock valued at $205,061,000 after purchasing an additional 37,236 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Planet Fitness in the 3rd quarter worth $604,000. Quest Partners LLC lifted its stake in Planet Fitness by 126.0% in the third quarter. Quest Partners LLC now owns 9,504 shares of the company’s stock worth $772,000 after purchasing an additional 5,298 shares during the last quarter. Finally, Qsemble Capital Management LP boosted its position in Planet Fitness by 100.6% during the third quarter. Qsemble Capital Management LP now owns 20,972 shares of the company’s stock valued at $1,703,000 after buying an additional 10,518 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLNT. Royal Bank of Canada restated an “outperform” rating and set a $120.00 target price on shares of Planet Fitness in a report on Wednesday, January 15th. Stifel Nicolaus raised their target price on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Friday. Raymond James raised their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird upped their price objective on shares of Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Trading Down 1.4 %

Shares of Planet Fitness stock opened at $104.47 on Monday. Planet Fitness, Inc. has a 12 month low of $54.35 and a 12 month high of $107.68. The firm has a market capitalization of $8.84 billion, a P/E ratio of 56.17, a P/E/G ratio of 2.87 and a beta of 1.52. The business has a fifty day simple moving average of $100.01 and a two-hundred day simple moving average of $86.74.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The company had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. Analysts predict that Planet Fitness, Inc. will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total transaction of $1,101,778.60. Following the sale, the insider now directly owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This represents a 37.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by company insiders.

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.