Park Avenue Securities LLC Raises Stock Holdings in Planet Fitness, Inc. (NYSE:PLNT)

Park Avenue Securities LLC lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 7.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,474 shares of the company’s stock after purchasing an additional 583 shares during the quarter. Park Avenue Securities LLC’s holdings in Planet Fitness were worth $531,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allworth Financial LP lifted its position in Planet Fitness by 247.6% in the fourth quarter. Allworth Financial LP now owns 358 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Planet Fitness in the fourth quarter valued at approximately $47,000. Asset Management One Co. Ltd. lifted its position in Planet Fitness by 17.4% in the fourth 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. First Horizon Advisors Inc. raised its holdings in shares of Planet Fitness by 24.4% during the fourth quarter. First Horizon Advisors Inc. now owns 1,006 shares of the company’s stock valued at $73,000 after acquiring an additional 197 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Planet Fitness by 169.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,181 shares of the company’s stock valued at $86,000 after acquiring an additional 743 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Down 0.4 %

NYSE PLNT opened at $73.62 on Friday. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $75.86. The stock has a market cap of $6.49 billion, a P/E ratio of 42.31, a P/E/G ratio of 2.49 and a beta of 1.43. The stock’s fifty day moving average price is $65.81 and its 200-day moving average price is $66.56.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. Planet Fitness had a negative return on equity of 140.14% and a net margin of 13.66%. The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $249.48 million. During the same period last year, the firm posted $0.41 earnings per share. Planet Fitness’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Planet Fitness, Inc. will post 2.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. upgraded Planet Fitness from a “neutral” rating to an “overweight” rating and upped their target price for the company from $68.00 to $78.00 in a report on Tuesday, May 14th. TD Cowen upgraded Planet Fitness from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $92.00 in a report on Monday, June 24th. DA Davidson restated a “neutral” rating and set a $62.00 target price on shares of Planet Fitness in a report on Friday, June 14th. Morgan Stanley restated an “overweight” rating and set a $79.00 target price on shares of Planet Fitness in a report on Friday, June 14th. Finally, Robert W. Baird upped their price target on Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and an average price target of $77.64.

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.