Janney Montgomery Scott LLC Boosts Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Janney Montgomery Scott LLC boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNTFree Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,214 shares of the company’s stock after buying an additional 198 shares during the period. Janney Montgomery Scott LLC’s holdings in Planet Fitness were worth $1,184,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PLNT. American Century Companies Inc. increased its position in shares of Planet Fitness by 66.8% during the third quarter. American Century Companies Inc. now owns 877,723 shares of the company’s stock valued at $43,166,000 after acquiring an additional 351,401 shares in the last quarter. Oak Thistle LLC purchased a new stake in Planet Fitness during the 4th quarter valued at $389,000. Dimensional Fund Advisors LP increased its holdings in shares of Planet Fitness by 17.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 897,910 shares of the company’s stock worth $65,549,000 after purchasing an additional 133,541 shares in the last quarter. Graham Capital Management L.P. purchased a new position in shares of Planet Fitness in the third quarter worth $944,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Planet Fitness by 80.4% during the fourth quarter. Pacer Advisors Inc. now owns 12,833 shares of the company’s stock valued at $937,000 after purchasing an additional 5,719 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

PLNT has been the subject of several research analyst reports. Royal Bank of Canada reduced their price objective on Planet Fitness from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Robert W. Baird lifted their price target on shares of Planet Fitness from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. upgraded shares of Planet Fitness from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $78.00 in a research report on Tuesday, May 14th. StockNews.com raised shares of Planet Fitness from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley reissued an “overweight” rating and set a $79.00 price target on shares of Planet Fitness in a report on Monday, April 1st. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.86.

View Our Latest Research Report on Planet Fitness

Planet Fitness Trading Down 1.2 %

Planet Fitness stock opened at $60.80 on Thursday. Planet Fitness, Inc. has a 12-month low of $44.13 and a 12-month high of $75.86. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 2.13 and a beta of 1.37. The firm has a 50 day moving average of $62.10 and a 200 day moving average of $65.99.

Planet Fitness (NYSE:PLNTGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Planet Fitness had a net margin of 13.66% and a negative return on equity of 140.14%. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $249.48 million. During the same period in the prior year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts predict that Planet Fitness, Inc. will post 2.43 EPS for the current year.

About Planet Fitness

(Free Report)

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.

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Institutional Ownership by Quarter for Planet Fitness (NYSE:PLNT)

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