Planet Fitness, Inc. (NYSE:PLNT) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in Planet Fitness, Inc. (NYSE:PLNT) by 64.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,767 shares of the company’s stock after purchasing an additional 4,221 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Planet Fitness were worth $1,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PLNT. Renaissance Technologies LLC acquired a new position in shares of Planet Fitness in the fourth quarter valued at about $11,963,000. Freestone Grove Partners LP acquired a new position in shares of Planet Fitness in the fourth quarter valued at about $25,676,000. Jump Financial LLC acquired a new position in shares of Planet Fitness in the fourth quarter valued at about $965,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Planet Fitness in the fourth quarter valued at about $3,378,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Planet Fitness in the fourth quarter valued at about $2,988,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Macquarie restated a “neutral” rating and issued a $95.00 target price on shares of Planet Fitness in a research note on Tuesday, May 13th. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. BMO Capital Markets upped their target price on Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Morgan Stanley upped their target price on Planet Fitness from $111.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, Stifel Nicolaus set a $120.00 target price on Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $106.63.

Planet Fitness Trading Up 0.8%

Shares of PLNT stock opened at $108.73 on Friday. The company has a market capitalization of $9.15 billion, a P/E ratio of 51.29, a P/E/G ratio of 2.41 and a beta of 1.33. The business’s 50 day moving average is $101.56 and its two-hundred day moving average is $100.26. Planet Fitness, Inc. has a 12-month low of $68.75 and a 12-month high of $110.95.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). The business had revenue of $276.66 million for the quarter, compared to analysts’ expectations of $279.80 million. Planet Fitness had a negative return on equity of 88.70% and a net margin of 14.84%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 EPS. On average, research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

About Planet Fitness

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.