Heritage Oak Wealth Advisors LLC Makes New Investment in Planet Fitness, Inc. (NYSE:PLNT)

Heritage Oak Wealth Advisors LLC purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 27,350 shares of the company's stock, valued at approximately $2,704,000. Planet Fitness accounts for about 1.3% of Heritage Oak Wealth Advisors LLC's investment portfolio, making the stock its 16th biggest position.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. boosted its holdings in Planet Fitness by 67.4% during the fourth quarter. UMB Bank n.a. now owns 390 shares of the company's stock worth $39,000 after buying an additional 157 shares in the last quarter. R Squared Ltd bought a new stake in shares of Planet Fitness during the 4th quarter worth $39,000. Beaumont Financial Advisors LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth $202,000. GAMMA Investing LLC grew its holdings in shares of Planet Fitness by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 2,090 shares of the company's stock worth $207,000 after acquiring an additional 192 shares during the last quarter. Finally, Greenleaf Trust acquired a new stake in shares of Planet Fitness during the fourth quarter worth $210,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

PLNT traded up $0.29 during midday trading on Monday, hitting $92.84. 2,145,534 shares of the company's stock traded hands, compared to its average volume of 1,655,649. The company has a market cap of $7.85 billion, a PE ratio of 49.91, a price-to-earnings-growth ratio of 2.45 and a beta of 1.53. The stock's fifty day simple moving average is $102.15 and its 200-day simple moving average is $92.50. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $110.00.

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Planet Fitness (NYSE:PLNT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.08. The business had revenue of $340.50 million for the quarter, compared to the consensus estimate of $324.57 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. Planet Fitness's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. On average, research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday. Robert W. Baird lifted their target price on shares of Planet Fitness from $92.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Raymond James boosted their price target on shares of Planet Fitness from $92.00 to $110.00 and gave the company a "strong-buy" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Roth Mkm reissued a "buy" rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Five 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. According to data from MarketBeat.com, Planet Fitness presently has an average rating of "Moderate Buy" and a consensus target price of $99.00.

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.