Raymond James & Associates raised its holdings in Planet Fitness, Inc. according to its most recent SEC filing. (NYSE: PLNT). The filing was made in the third quarter. The organization ended the period with 46,382 shares of the company’s stock. This was achieved by purchasing an additional 8,198 shares in the company during the month. Raymond James & Associates owned approximately 0.05% of Planet Fitness, worth $2,674,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company in the last period. First Horizon Advisors Inc. increased the amount of money it invested in Planet Fitness by 290.5% in the second quarter of the year. First Horizon Advisors Inc. now has a total of 781 shares of the company’s stock, which is currently valued at $53,000 after purchasing an additional 581 shares over the next year. These shares were acquired during the previous calendar year. Ellevest Inc. increased its holdings in shares of Planet Fitness by 1,098.8% in the second fiscal quarter. During the quarter, Ellevest Inc. purchased 890 shares of the company’s stock. This brings the total number of shares the company owns to 971, which has an equivalent value of $66,000. Parallel Advisors LLC grew its stake in Planet Fitness by 565.3 percentage points during the second fiscal quarter. After buying an additional 1,221 shares during the period, Parallel Advisors LLC now owns 1,437 shares of the company’s stock, which has an intrinsic value of $98,000. These shares were acquired during the period. In the first three months of this year, Captrust Financial Advisors saw a 23% increase in the value of its investment in Planet Fitness. After acquiring an additional 219 shares in the last period, Captrust Financial Advisors now owns 1,172 shares of the company’s stock valued at $99,000. This brings the firm’s total shares owned to 1,172. Finally, in the second quarter Brown Brothers Harriman & Co. purchased a new position in Planet Fitness for approximately $108,000. The majority of the company’s shares, or 94.56%, are owned by institutional investors and hedge funds.
A significant number of research organizations are currently focusing their attention on PLNT. According to a report published on November 16th, Cowen raised the target price they set on shares of Planet Fitness from $80.00 to $90.00. The previous target price was $80.00. Planet Fitness had an “underperform” rating previously, but Robert W. Baird gave the company an “outperform” rating and increased their target price for the stock from $95.00 to $100.00. They also raised their price target on the stock. This information was provided in a report that was released on January 11. BMO Capital Markets had previously rated Planet Fitness with an “underperform” rating; however, the company has since been upgraded to an “outperform” rating and had its price target raised from $88.00 to $90.00. Additionally, the price target was raised by $2.00. The results of the survey were published on November 9. Guggenheim cut their target price on shares of Planet Fitness to $85.00 per share in a report on November 1st. Raymond James upped their target price on shares of Planet Fitness from $80.00 to $92.00 in a research report on Wednesday, November 16th. It was the third time the company raised its prices in as many days. Three analysts have rated the stock a hold, eleven have rated the stock a buy and one has rated the stock a strong buy. According to information provided by Bloomberg.com, the average price target for the company has been set at $93.46 and the company is currently rated as having a moderate consensus recommendation of buy.
On Friday, shares of Planet Fitness were offered for sale at $79.22 each when trading began. Over the past year, the price of Planet Fitness, Inc. ranged between $54.15 and $97.04, reaching an all-time low of $54.15 and an all-time high of $97.04. The moving average for the stock over the past 50 days is currently $77.94, while the moving average over the past 200 days is currently $72.06. The company’s price-to-earnings ratio is 94.31, the company’s price-to-growth ratio is 1.28, and the company’s beta is 1.23. The company currently has a market capitalization of $7.10 billion.
Planet Fitness (NYSE:PLNT)’s latest earnings report was released on Tuesday, November 8th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 among financial analysts by $0.03. Planet Fitness’s return on equity was negative at 36.77% and its net margin was 8.52%. The company reported revenue of $244.39 million for the quarter, which was significantly higher than the average estimate of $237.40 million that the company also reported. According to forecasts provided by sell-side research analysts, Planet Fitness, Inc. is expected to. to realize $1.59 per share in 2018.
Planet Fitness, Inc. deals with the management of fitness centers and the franchising of these locations. It can be divided into three distinct subcategories: franchises, corporate-owned locations, and equipment. The company’s franchise operations are included in the franchise section of the company’s business. They take place all over the world, including in the United States of America, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico and Australia. In addition, the Dominican Republic, Panama and Mexico are also involved in the company’s franchise operations.
Interested in learning more about the various other hedge funds that are closely following PLNT? By going to HoldingsChannel.com, you can explore the latest 13F filings and insider trading for Planet Fitness, Inc. (NYSE: PLNT).