Envestnet Asset Management Inc. Has $13.13 Million Position in Planet Fitness, Inc. $PLNT

Envestnet Asset Management Inc. lowered its position in Planet Fitness, Inc. (NYSE:PLNT) by 8.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 126,450 shares of the company’s stock after selling 11,587 shares during the period. Envestnet Asset Management Inc. owned 0.15% of Planet Fitness worth $13,126,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Planet Fitness during the second quarter valued at about $116,175,000. Ninety One UK Ltd increased its position in Planet Fitness by 20.0% in the 3rd quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after buying an additional 577,637 shares in the last quarter. Squarepoint Ops LLC raised its stake in Planet Fitness by 152.8% during the 2nd quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after buying an additional 514,876 shares during the period. AustralianSuper Pty Ltd bought a new position in Planet Fitness in the second quarter worth approximately $41,428,000. Finally, Invesco Ltd. boosted its holdings in Planet Fitness by 15.0% in the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after acquiring an additional 332,362 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $90.68 on Tuesday. The firm has a fifty day moving average price of $101.04 and a two-hundred day moving average price of $102.06. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 1.38 and a beta of 1.26. Planet Fitness, Inc. has a one year low of $87.44 and a one year high of $114.47.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PLNT shares. Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. TD Cowen restated a “buy” rating on shares of Planet Fitness in a report on Wednesday, January 14th. JPMorgan Chase & Co. raised their price target on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Morgan Stanley boosted their price objective on Planet Fitness from $123.00 to $128.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $122.27.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.