Cetera Investment Advisers Acquires 2,357 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Cetera Investment Advisers grew its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,389 shares of the company’s stock after acquiring an additional 2,357 shares during the period. Cetera Investment Advisers’ holdings in Planet Fitness were worth $3,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PLNT. Oak Thistle LLC boosted its holdings in Planet Fitness by 39.2% in the 1st quarter. Oak Thistle LLC now owns 26,561 shares of the company’s stock worth $2,566,000 after buying an additional 7,483 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Planet Fitness in the 1st quarter worth $3,874,000. IFP Advisors Inc boosted its holdings in Planet Fitness by 3,783.9% in the 1st quarter. IFP Advisors Inc now owns 1,204 shares of the company’s stock worth $116,000 after buying an additional 1,173 shares during the period. Csenge Advisory Group purchased a new stake in Planet Fitness in the 1st quarter worth $596,000. Finally, Fortis Group Advisors LLC lifted its stake in Planet Fitness by 26.5% in the 1st quarter. Fortis Group Advisors LLC now owns 4,045 shares of the company’s stock worth $391,000 after purchasing an additional 847 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Up 2.6%

Shares of NYSE:PLNT opened at $110.37 on Tuesday. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 52.06, a PEG ratio of 2.41 and a beta of 1.40. Planet Fitness, Inc. has a 12 month low of $68.75 and a 12 month high of $114.47. The firm’s 50-day moving average is $107.40 and its 200 day moving average is $101.84.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Guggenheim reiterated a “buy” rating and issued a $110.00 price target on shares of Planet Fitness in a research note on Monday, May 12th. Macquarie reiterated a “neutral” rating and issued a $95.00 price target on shares of Planet Fitness in a research note on Tuesday, May 13th. Canaccord Genuity Group set a $126.00 target price on shares of Planet Fitness and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, Morgan Stanley upped their target price on shares of Planet Fitness from $111.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.63.

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.