HighTower Advisors LLC Cuts Position in Planet Fitness, Inc. (NYSE:PLNT)

HighTower Advisors LLC lowered its stake in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 88.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,386 shares of the company's stock after selling 39,681 shares during the period. HighTower Advisors LLC's holdings in Planet Fitness were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC purchased a new stake in shares of Planet Fitness during the 4th quarter worth approximately $3,741,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Planet Fitness by 36.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,147 shares of the company's stock worth $2,091,000 after purchasing an additional 5,699 shares during the last quarter. Personal CFO Solutions LLC purchased a new stake in Planet Fitness during the fourth quarter worth $210,000. Lisanti Capital Growth LLC grew its holdings 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 purchasing an additional 1,575 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Planet Fitness in the fourth quarter valued at $2,988,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Guggenheim reiterated a "buy" rating and issued a $105.00 price objective on shares of Planet Fitness in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their price target on shares of Planet Fitness from $90.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. DA Davidson restated a "neutral" rating and set a $87.00 price objective on shares of Planet Fitness in a research report on Tuesday, January 21st. Roth Mkm reissued a "buy" rating and set a $115.00 price target (up previously from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Finally, Macquarie cut their price target on Planet Fitness from $99.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $101.44.

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Planet Fitness Stock Up 1.2 %

Shares of PLNT stock traded up $1.18 during trading hours on Wednesday, hitting $96.86. 213,919 shares of the company were exchanged, compared to its average volume of 1,563,496. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The firm has a fifty day moving average of $100.06 and a 200 day moving average of $95.02. The firm has a market cap of $8.20 billion, a PE ratio of 52.07, a PEG ratio of 2.45 and a beta of 1.54.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced 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 company had revenue of $340.50 million for the quarter, compared to analyst estimates 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 business earned $0.60 EPS. Analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current 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.