Raymond James Financial Inc. Buys New Shares in Planet Fitness, Inc. (NYSE:PLNT)

Raymond James Financial Inc. acquired a new stake in Planet Fitness, Inc. (NYSE:PLNT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 30,223 shares of the company's stock, valued at approximately $2,988,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UMB Bank n.a. grew its holdings in shares of 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 last quarter. R Squared Ltd purchased a new stake in Planet Fitness in the 4th quarter valued at about $39,000. Proficio Capital Partners LLC bought a new position in Planet Fitness in the 4th quarter worth about $51,000. Point72 Hong Kong Ltd purchased a new position in shares of Planet Fitness during the third quarter worth approximately $200,000. Finally, Beaumont Financial Advisors LLC bought a new stake in shares of Planet Fitness during the fourth quarter valued at approximately $202,000. Hedge funds and other institutional investors own 95.53% of the company's stock.

Planet Fitness Trading Up 1.2 %

Shares of PLNT traded up $1.18 during midday trading on Wednesday, hitting $96.86. 207,693 shares of the company's stock traded hands, compared to its average volume of 1,449,446. Planet Fitness, Inc. has a 1 year low of $57.64 and a 1 year high of $110.00. The firm's fifty day moving average is $100.06 and its 200-day moving average is $95.02. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 52.03, a price-to-earnings-growth ratio of 2.45 and a beta of 1.54.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PLNT shares. Roth Mkm reissued a "buy" rating and issued a $115.00 price objective (up previously from $110.00) on shares of Planet Fitness in a research note on Wednesday, February 26th. Royal Bank of Canada reissued an "outperform" rating and set a $120.00 price target on shares of Planet Fitness in a research report on Monday, February 24th. Canaccord Genuity Group started coverage on shares of Planet Fitness in a research note on Thursday, March 13th. They issued a "buy" rating and a $120.00 price objective for the company. BMO Capital Markets increased their target price on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Monday. Finally, Piper Sandler boosted their price target on shares of Planet Fitness from $115.00 to $123.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Five 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 company's stock. According to data from MarketBeat, Planet Fitness currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.44.

Planet Fitness Company 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.