Cetera Trust Company N.A Buys 135 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Cetera Trust Company N.A lifted its position in Planet Fitness, Inc. (NYSE:PLNT) by 5.2% during the 4th quarter, HoldingsChannel reports. The firm owned 2,710 shares of the company’s stock after acquiring an additional 135 shares during the quarter. Cetera Trust Company N.A’s holdings in Planet Fitness were worth $268,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PLNT. UMB Bank n.a. increased its holdings in shares of Planet Fitness by 67.4% in the 4th quarter. UMB Bank n.a. now owns 390 shares of the company’s stock worth $39,000 after buying an additional 157 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Planet Fitness by 69.8% in the third quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares during the last quarter. Quarry LP grew its stake in Planet Fitness by 174.7% in the second quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC grew its stake in Planet Fitness by 396.9% in the third quarter. GAMMA Investing LLC now owns 1,898 shares of the company’s stock worth $154,000 after purchasing an additional 1,516 shares in the last quarter. Finally, Beaumont Financial Advisors LLC bought a new position in shares of Planet Fitness during the 4th quarter worth $202,000. Institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $96.20, for a total value of $1,101,778.60. Following the completion of the sale, the insider now owns 19,110 shares of the company’s stock, valued at approximately $1,838,382. This trade represents a 37.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Planet Fitness from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Morgan Stanley increased their price objective on shares of Planet Fitness from $84.00 to $89.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Robert W. Baird increased their target price on Planet Fitness from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Raymond James increased their target price on Planet Fitness from $92.00 to $110.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler raised their price objective on Planet Fitness from $115.00 to $123.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus price target of $97.69.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $107.70 on Wednesday. The company has a market cap of $9.11 billion, a P/E ratio of 58.10, a price-to-earnings-growth ratio of 2.58 and a beta of 1.52. Planet Fitness, Inc. has a fifty-two week low of $54.35 and a fifty-two week high of $108.10. The firm has a 50-day simple moving average of $100.46 and a two-hundred day simple moving average of $87.20.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.07. The business had revenue of $292.20 million during the quarter, compared to the consensus estimate of $283.79 million. Planet Fitness had a negative return on equity of 107.97% and a net margin of 14.23%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS. Equities research analysts forecast that Planet Fitness, Inc. will post 2.5 EPS 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.