Raymond James Financial Services Advisors Inc. Has $1.56 Million Stake in Planet Fitness, Inc. (NYSE:PLNT)

Raymond James Financial Services Advisors Inc. reduced its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 70.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 21,355 shares of the company’s stock after selling 50,000 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Planet Fitness were worth $1,559,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Cadian Capital Management LP raised its holdings in Planet Fitness by 164.7% in the 3rd quarter. Cadian Capital Management LP now owns 4,043,507 shares of the company’s stock valued at $198,860,000 after acquiring an additional 2,516,007 shares in the last quarter. BlackRock Inc. raised its holdings in Planet Fitness by 34.8% in the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock valued at $606,915,000 after acquiring an additional 1,852,867 shares in the last quarter. State Street Corp increased its stake in shares of Planet Fitness by 78.4% in the 2nd quarter. State Street Corp now owns 2,295,657 shares of the company’s stock valued at $154,819,000 after purchasing an additional 1,008,875 shares during the last quarter. Norges Bank bought a new position in shares of Planet Fitness in the 4th quarter valued at $63,014,000. Finally, Pelham Capital Ltd. bought a new position in shares of Planet Fitness in the 3rd quarter valued at $36,172,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLNT. JPMorgan Chase & Co. decreased their price target on Planet Fitness from $75.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, February 26th. Stifel Nicolaus decreased their price target on Planet Fitness from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. DA Davidson restated a “neutral” rating and set a $62.00 price objective on shares of Planet Fitness in a research report on Monday, February 5th. StockNews.com upgraded Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and set a $79.00 price objective on shares of Planet Fitness in a research report on Monday, April 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.

Planet Fitness Trading Down 1.6 %

Shares of PLNT opened at $62.60 on Friday. The company has a market capitalization of $5.52 billion, a PE ratio of 38.64, a PEG ratio of 1.27 and a beta of 1.39. Planet Fitness, Inc. has a 12 month low of $44.13 and a 12 month high of $84.48. The stock’s 50-day moving average price is $63.85 and its two-hundred day moving average price is $63.69.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, February 22nd. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $285.10 million for the quarter, compared to the consensus estimate of $282.35 million. Planet Fitness had a negative return on equity of 120.89% and a net margin of 12.91%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts predict that Planet Fitness, Inc. will post 2.48 EPS 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.