Raymond James Financial Inc. Acquires New Shares in Planet Fitness, Inc. (NYSE:PLNT)

Raymond James Financial Inc. acquired a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 30,223 shares of the company’s stock, valued at approximately $2,988,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in shares of Planet Fitness by 67.4% during the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock valued at $39,000 after buying an additional 157 shares during the last quarter. R Squared Ltd bought a new position in Planet Fitness during the fourth quarter valued at approximately $39,000. Beaumont Financial Advisors LLC acquired a new stake in Planet Fitness in the fourth quarter valued at approximately $202,000. GAMMA Investing LLC grew its position in Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock worth $207,000 after acquiring an additional 192 shares in the last quarter. Finally, Greenleaf Trust acquired a new position in shares of Planet Fitness during the 4th quarter worth $210,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

NYSE:PLNT opened at $96.18 on Friday. The firm’s 50-day moving average is $100.46 and its 200-day moving average is $94.63. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 2.45 and a beta of 1.54. Planet Fitness, Inc. has a 52-week low of $57.64 and a 52-week high of $110.00.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The firm had revenue of $340.50 million for the quarter, compared to analyst estimates of $324.57 million. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. Equities analysts predict that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $120.00 price target on shares of Planet Fitness in a research note on Monday, February 24th. Canaccord Genuity Group started coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, Macquarie reduced their target price on Planet Fitness from $99.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $100.17.

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.