Arkadios Wealth Advisors Grows Stock Position in Planet Fitness, Inc. (NYSE:PLNT)

Arkadios Wealth Advisors increased its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 26.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,984 shares of the company’s stock after buying an additional 2,305 shares during the quarter. Arkadios Wealth Advisors’ holdings in Planet Fitness were worth $1,086,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Accurate Wealth Management LLC increased its position in Planet Fitness by 28.1% in the fourth quarter. Accurate Wealth Management LLC now owns 10,018 shares of the company’s stock worth $1,016,000 after buying an additional 2,199 shares in the last quarter. Fulton Bank N.A. increased its holdings in Planet Fitness by 71.9% in the 4th quarter. Fulton Bank N.A. now owns 4,429 shares of the company’s stock worth $438,000 after acquiring an additional 1,853 shares in the last quarter. Nordea Investment Management AB raised its stake in Planet Fitness by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 183,061 shares of the company’s stock worth $18,205,000 after acquiring an additional 8,600 shares during the period. Everence Capital Management Inc. purchased a new position in Planet Fitness during the fourth quarter valued at approximately $240,000. Finally, GAMMA Investing LLC boosted its position in shares of Planet Fitness by 10.1% in the fourth quarter. GAMMA Investing LLC now owns 2,090 shares of the company’s stock worth $207,000 after purchasing an additional 192 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLNT has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Planet Fitness from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday. Raymond James boosted their price objective 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. Robert W. Baird increased their target price on Planet Fitness from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Macquarie reissued a “neutral” rating and issued a $99.00 price target (up from $91.00) on shares of Planet Fitness in a report on Friday, November 8th. Finally, DA Davidson lifted their price objective on shares of Planet Fitness from $70.00 to $87.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.69.

Insider Transactions at Planet Fitness

In related news, insider Jennifer Simmons sold 11,453 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $96.20, for a total value of $1,101,778.60. Following the transaction, the insider now owns 19,110 shares of the company’s stock, valued at $1,838,382. This trade represents a 37.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.83% of the company’s stock.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $104.47 on Monday. The stock has a 50 day moving average price of $100.01 and a 200-day moving average price of $86.74. Planet Fitness, Inc. has a one year low of $54.35 and a one year high of $107.68. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 56.17, a price-to-earnings-growth ratio of 2.87 and a beta of 1.52.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. The business had revenue of $292.20 million for the quarter, compared to analysts’ expectations of $283.79 million. Planet Fitness had a net margin of 14.23% and a negative return on equity of 107.97%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. Sell-side analysts predict that Planet Fitness, Inc. will post 2.5 earnings per share for the current fiscal year.

About Planet Fitness

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.