Planet Fitness, Inc. (NYSE:PLNT) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers trimmed its position in Planet Fitness, Inc. (NYSE:PLNT) by 11.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,032 shares of the company’s stock after selling 4,916 shares during the period. Cetera Investment Advisers’ holdings in Planet Fitness were worth $3,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arkadios Wealth Advisors grew its position in shares of Planet Fitness by 26.6% in the 4th quarter. Arkadios Wealth Advisors now owns 10,984 shares of the company’s stock worth $1,086,000 after acquiring an additional 2,305 shares in the last quarter. Artemis Investment Management LLP bought a new position in Planet Fitness during the fourth quarter worth $18,767,000. UMB Bank n.a. boosted its holdings in Planet Fitness by 67.4% in the fourth quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after purchasing an additional 157 shares during the period. Beaumont Financial Advisors LLC bought a new stake in Planet Fitness during the fourth quarter valued at $202,000. Finally, Cetera Trust Company N.A increased its stake in Planet Fitness by 5.2% during the fourth quarter. Cetera Trust Company N.A now owns 2,710 shares of the company’s stock valued at $268,000 after purchasing an additional 135 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Up 0.1%

Shares of PLNT opened at $98.02 on Friday. The firm has a market capitalization of $8.30 billion, a PE ratio of 52.70, a P/E/G ratio of 2.45 and a beta of 1.33. The firm has a 50-day moving average price of $96.35 and a 200 day moving average price of $98.06. Planet Fitness, Inc. has a 52-week low of $60.56 and a 52-week high of $110.00.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.03). Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The company had revenue of $276.66 million during the quarter, compared to analyst estimates of $279.80 million. During the same period in the prior year, the company posted $0.53 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on PLNT. DA Davidson reaffirmed a “neutral” rating and issued a $87.00 price target on shares of Planet Fitness in a report on Tuesday, January 21st. Canaccord Genuity Group began coverage on Planet Fitness in a report on Thursday, March 13th. They set a “buy” rating and a $120.00 target price for the company. Guggenheim reiterated a “buy” rating and set a $110.00 price target on shares of Planet Fitness in a research report on Monday. Stifel Nicolaus reduced their price objective on Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Finally, Macquarie restated a “neutral” rating and set a $95.00 price objective on shares of Planet Fitness in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $103.00.

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.