Concurrent Investment Advisors LLC Has $312,000 Stock Holdings in Planet Fitness, Inc. $PLNT

Concurrent Investment Advisors LLC decreased its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,861 shares of the company’s stock after selling 129 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Planet Fitness were worth $312,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. KBC Group NV raised its stake in shares of Planet Fitness by 13.7% in the 1st quarter. KBC Group NV now owns 3,503 shares of the company’s stock valued at $338,000 after buying an additional 422 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Planet Fitness by 7.4% in the 1st quarter. GAMMA Investing LLC now owns 2,245 shares of the company’s stock valued at $217,000 after buying an additional 155 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Planet Fitness by 2.3% in the 1st quarter. Bessemer Group Inc. now owns 359,755 shares of the company’s stock valued at $34,756,000 after buying an additional 8,025 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock valued at $782,394,000 after buying an additional 62,716 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Planet Fitness by 70.6% in the 1st quarter. New York State Teachers Retirement System now owns 33,600 shares of the company’s stock worth $3,246,000 after purchasing an additional 13,900 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PLNT shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $126.00 target price on shares of Planet Fitness in a report on Monday, September 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Planet Fitness in a report on Wednesday, October 8th. UBS Group started coverage on shares of Planet Fitness in a report on Friday. They issued a “buy” rating and a $125.00 target price on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.50.

Planet Fitness Stock Up 1.7%

Shares of NYSE:PLNT opened at $94.20 on Monday. Planet Fitness, Inc. has a 12 month low of $77.77 and a 12 month high of $114.47. The company’s 50-day moving average price is $102.00 and its two-hundred day moving average price is $102.65. The firm has a market cap of $7.93 billion, a P/E ratio of 41.87, a P/E/G ratio of 2.09 and a beta of 1.38.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Wednesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. The company had revenue of $340.88 million for the quarter, compared to analyst estimates of $329.59 million. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. As a group, equities analysts predict that Planet Fitness, Inc. will post 2.51 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.