Envestnet Portfolio Solutions Inc. Cuts Holdings in Planet Fitness, Inc. $PLNT

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 18.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,571 shares of the company’s stock after selling 595 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Planet Fitness were worth $280,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLNT. GAMMA Investing LLC increased its holdings in Planet Fitness by 7.4% during the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company’s stock valued at $217,000 after buying an additional 155 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Planet Fitness by 15.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,095 shares of the company’s stock worth $299,000 after purchasing an additional 418 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Planet Fitness by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 9,865 shares of the company’s stock worth $953,000 after purchasing an additional 265 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Planet Fitness by 64.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 10,767 shares of the company’s stock worth $1,040,000 after purchasing an additional 4,221 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Planet Fitness by 2.3% in the first quarter. Bessemer Group Inc. now owns 359,755 shares of the company’s stock worth $34,756,000 after purchasing an additional 8,025 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PLNT shares. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. UBS Group started coverage on shares of Planet Fitness in a report on Friday, October 17th. They issued a “buy” rating and a $125.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $126.00 price target on shares of Planet Fitness in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.50.

Planet Fitness Trading Down 0.8%

NYSE:PLNT opened at $95.94 on Friday. Planet Fitness, Inc. has a 12 month low of $77.77 and a 12 month high of $114.47. The firm has a fifty day simple moving average of $101.21 and a 200-day simple moving average of $102.61. The company has a market capitalization of $8.08 billion, a P/E ratio of 42.64, a PEG ratio of 2.15 and a beta of 1.38.

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