IFP Advisors Inc Trims Stock Position in Planet Fitness, Inc. $PLNT

IFP Advisors Inc cut its stake in Planet Fitness, Inc. (NYSE:PLNT) by 32.8% in the second quarter, Holdings Channel.com reports. The fund owned 809 shares of the company’s stock after selling 395 shares during the quarter. IFP Advisors Inc’s holdings in Planet Fitness were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brooklyn Investment Group lifted its position in Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock valued at $31,000 after acquiring an additional 118 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Planet Fitness by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,235 shares of the company’s stock valued at $313,000 after acquiring an additional 126 shares during the last quarter. GAMMA Investing LLC lifted its position in Planet Fitness by 7.4% in the first quarter. GAMMA Investing LLC now owns 2,245 shares of the company’s stock valued at $217,000 after acquiring an additional 155 shares during the last quarter. Xponance Inc. lifted its position in Planet Fitness by 1.1% in the first quarter. Xponance Inc. now owns 13,767 shares of the company’s stock valued at $1,330,000 after acquiring an additional 156 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in Planet Fitness by 1.0% in the first quarter. State of Michigan Retirement System now owns 20,100 shares of the company’s stock valued at $1,942,000 after acquiring an additional 200 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Planet Fitness Stock Up 1.7%

NYSE PLNT opened at $94.20 on Monday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 41.87, a P/E/G ratio of 2.09 and a beta of 1.38. Planet Fitness, Inc. has a 52-week low of $77.77 and a 52-week high of $114.47. The firm has a 50-day moving average price of $102.00 and a 200 day moving average price of $102.65.

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