Raymond James & Associates Sells 34,000 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Raymond James & Associates lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 35.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,693 shares of the company’s stock after selling 34,000 shares during the quarter. Raymond James & Associates’ holdings in Planet Fitness were worth $4,577,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Legato Capital Management LLC acquired a new position in Planet Fitness during the fourth quarter worth $497,000. Whitaker Myers Wealth Managers LTD. acquired a new position in Planet Fitness during the fourth quarter worth $210,000. Handelsinvest Investeringsforvaltning acquired a new position in Planet Fitness during the fourth quarter worth $338,000. Baker Tilly Wealth Management LLC acquired a new position in Planet Fitness during the fourth quarter worth $401,000. Finally, Diversified Trust Co increased its holdings in Planet Fitness by 3.4% during the fourth quarter. Diversified Trust Co now owns 20,256 shares of the company’s stock worth $1,479,000 after buying an additional 659 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

PLNT stock opened at $62.60 on Friday. The company’s 50-day simple moving average is $63.85 and its 200 day simple moving average is $63.69. Planet Fitness, Inc. has a 52 week low of $44.13 and a 52 week high of $84.48. The company has a market capitalization of $5.52 billion, a PE ratio of 38.64, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39.

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 for the quarter, compared to the consensus estimate of $282.35 million. During the same period in the prior year, the company posted $0.53 earnings per share. Planet Fitness’s revenue was up 1.4% compared to the same quarter last year. On average, analysts forecast that Planet Fitness, Inc. will post 2.48 EPS for the current year.

Analyst Ratings Changes

PLNT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, February 26th. DA Davidson reiterated a “neutral” rating and issued a $62.00 price objective on shares of Planet Fitness in a report on Monday, February 5th. StockNews.com upgraded shares of Planet Fitness from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler upped their price objective on shares of Planet Fitness from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Finally, Royal Bank of Canada upped their price objective on shares of Planet Fitness from $74.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. 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. According to MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $71.00.

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.