Summit Investment Advisors Inc. Sells 491 Shares of Planet Fitness, Inc. (NYSE:PLNT)

Summit Investment Advisors Inc. lessened its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,861 shares of the company’s stock after selling 491 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Planet Fitness were worth $1,667,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. M&T Bank Corp boosted its stake in Planet Fitness by 2.6% in the third quarter. M&T Bank Corp now owns 4,947 shares of the company’s stock valued at $402,000 after acquiring an additional 124 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Planet Fitness by 132.5% in the 3rd quarter. Tidal Investments LLC now owns 28,957 shares of the company’s stock valued at $2,352,000 after purchasing an additional 16,503 shares during the period. GAMMA Investing LLC boosted its position in shares of Planet Fitness by 10.1% in the 4th 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 last quarter. Everence Capital Management Inc. acquired a new stake in shares of Planet Fitness during the fourth quarter worth $240,000. Finally, Nordea Investment Management AB increased its holdings in Planet Fitness by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 183,061 shares of the company’s stock valued at $18,205,000 after purchasing an additional 8,600 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Trading Down 1.4 %

Planet Fitness stock opened at $96.23 on Wednesday. Planet Fitness, Inc. has a 1-year low of $57.64 and a 1-year high of $110.00. The company has a fifty day simple moving average of $97.17 and a 200 day simple moving average of $95.85. The company has a market cap of $8.15 billion, a P/E ratio of 51.73, a price-to-earnings-growth ratio of 2.45 and a beta of 1.39.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.70 earnings per share for the quarter, beating 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 company had revenue of $340.50 million during the quarter, compared to analysts’ expectations of $324.57 million. During the same quarter last year, the company earned $0.60 EPS. Planet Fitness’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

PLNT has been the subject of several analyst reports. Roth Mkm restated a “buy” rating and set a $115.00 target price (up from $110.00) on shares of Planet Fitness in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on shares of Planet Fitness from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, February 28th. BMO Capital Markets lifted their price target on shares of Planet Fitness from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. JPMorgan Chase & Co. upped 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, January 17th. Finally, Guggenheim raised their price target on Planet Fitness from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

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.