First Horizon Advisors Inc. Grows Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

First Horizon Advisors Inc. grew its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 24.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,006 shares of the company’s stock after buying an additional 197 shares during the period. First Horizon Advisors Inc.’s holdings in Planet Fitness were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP grew its position in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Planet Fitness in the 4th quarter worth approximately $47,000. Asset Management One Co. Ltd. increased its position in shares of Planet Fitness by 17.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 999 shares of the company’s stock valued at $73,000 after purchasing an additional 148 shares during the last quarter. Covestor Ltd raised its holdings in Planet Fitness by 19.5% during the 3rd quarter. Covestor Ltd now owns 1,460 shares of the company’s stock valued at $72,000 after buying an additional 238 shares during the period. Finally, Cetera Trust Company N.A bought a new stake in Planet Fitness in the fourth quarter worth $195,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $62.02 on Wednesday. The business has a fifty day moving average price of $61.44 and a 200 day moving average price of $65.24. Planet Fitness, Inc. has a 1-year low of $44.13 and a 1-year high of $75.86. The stock has a market capitalization of $5.47 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37.

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

Analyst Ratings Changes

Several equities analysts recently commented on PLNT shares. DA Davidson reiterated a “neutral” rating and set a $62.00 price target on shares of Planet Fitness in a report on Monday, February 5th. Stifel Nicolaus cut their target price on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. JPMorgan Chase & Co. decreased their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating for the company in a research note on Monday, February 26th. Piper Sandler upped their price objective on Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.21.

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.