HighTower Advisors LLC Has $533,000 Stake in Planet Fitness, Inc. (NYSE:PLNT)

HighTower Advisors LLC lessened its position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 88.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,386 shares of the company's stock after selling 39,681 shares during the quarter. HighTower Advisors LLC's holdings in Planet Fitness were worth $533,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PLNT. Wealthfront Advisers LLC bought a new position in Planet Fitness in the fourth quarter worth $3,741,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Planet Fitness by 36.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,147 shares of the company's stock worth $2,091,000 after acquiring an additional 5,699 shares during the period. Personal CFO Solutions LLC acquired a new stake in shares of Planet Fitness during the 4th quarter valued at about $210,000. Lisanti Capital Growth LLC increased its stake in Planet Fitness by 2.5% in the fourth quarter. Lisanti Capital Growth LLC now owns 65,670 shares of the company's stock valued at $6,493,000 after acquiring an additional 1,575 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Planet Fitness in the fourth quarter valued at about $2,988,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Trading Up 3.5 %

Shares of NYSE:PLNT traded up $3.31 during midday trading on Wednesday, hitting $98.99. The company had a trading volume of 1,389,031 shares, compared to its average volume of 1,452,435. Planet Fitness, Inc. has a 12 month low of $57.64 and a 12 month high of $110.00. The firm has a fifty day simple moving average of $99.91 and a 200 day simple moving average of $95.05. The stock has a market cap of $8.38 billion, a price-to-earnings ratio of 53.22, a PEG ratio of 2.45 and a beta of 1.54.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group started coverage on Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price objective on the stock. Piper Sandler upped their target price on shares of Planet Fitness from $115.00 to $123.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Guggenheim restated a "buy" rating and set a $105.00 price target on shares of Planet Fitness in a research report on Thursday, February 27th. Stifel Nicolaus reduced their price objective on Planet Fitness from $90.00 to $82.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Finally, BMO Capital Markets raised their target price on Planet Fitness from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $101.44.

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.