Wealth Enhancement Advisory Services LLC Buys 721 Shares of Planet Fitness, Inc. $PLNT

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 23.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,816 shares of the company’s stock after purchasing an additional 721 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Planet Fitness were worth $411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock valued at $213,618,000 after buying an additional 1,728,407 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Planet Fitness by 62.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock valued at $317,810,000 after purchasing an additional 1,268,262 shares during the last quarter. Ninety One UK Ltd grew its position in shares of Planet Fitness by 61.1% in the first quarter. Ninety One UK Ltd now owns 2,124,679 shares of the company’s stock valued at $205,265,000 after purchasing an additional 806,023 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Planet Fitness in the first quarter worth about $54,384,000. Finally, Junto Capital Management LP acquired a new position in shares of Planet Fitness during the 1st quarter worth about $52,580,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PLNT. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Canaccord Genuity Group restated a “buy” rating and issued a $126.00 price objective on shares of Planet Fitness in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a research report on Saturday, September 27th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.54.

Planet Fitness Price Performance

Planet Fitness stock opened at $98.01 on Tuesday. The business has a 50 day simple moving average of $104.56 and a 200 day simple moving average of $102.92. The company has a market capitalization of $8.26 billion, a PE ratio of 43.56, a price-to-earnings-growth ratio of 2.24 and a beta of 1.38. Planet Fitness, Inc. has a one year low of $77.77 and a one year high of $114.47.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. The firm had revenue of $340.88 million during the quarter, compared to analyst estimates of $329.59 million. Planet Fitness had a negative return on equity of 110.18% and a net margin of 15.11%.The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 earnings per share. Equities analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

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.