Planet Fitness, Inc. $PLNT Position Decreased by Bwcp LP

Bwcp LP decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,204 shares of the company’s stock after selling 21,544 shares during the quarter. Planet Fitness accounts for approximately 5.0% of Bwcp LP’s portfolio, making the stock its 3rd largest position. Bwcp LP owned about 0.33% of Planet Fitness worth $30,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Michigan Retirement System lifted its position in Planet Fitness by 0.5% during the second quarter. State of Michigan Retirement System now owns 20,200 shares of the company’s stock valued at $2,203,000 after purchasing an additional 100 shares during the last quarter. Emerald Advisers LLC lifted its holdings in shares of Planet Fitness by 1.9% during the 2nd quarter. Emerald Advisers LLC now owns 5,572 shares of the company’s stock worth $608,000 after acquiring an additional 104 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Planet Fitness by 57.8% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Planet Fitness by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,235 shares of the company’s stock worth $313,000 after acquiring an additional 126 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Planet Fitness by 3.7% in the second quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock valued at $405,000 after acquiring an additional 132 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on PLNT. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday. Macquarie upped their target price on Planet Fitness from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. UBS Group started coverage on shares of Planet Fitness in a research report on Friday, October 17th. They set a “buy” rating and a $125.00 price target for the company. Canaccord Genuity Group upped their price target on shares of Planet Fitness from $130.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Guggenheim raised Planet Fitness to a “strong-buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.92.

Planet Fitness Trading Up 0.1%

Shares of PLNT opened at $108.64 on Friday. The business’s 50 day moving average is $101.47 and its 200 day moving average is $104.34. Planet Fitness, Inc. has a 12-month low of $87.72 and a 12-month high of $114.47. The company has a market capitalization of $9.05 billion, a PE ratio of 44.34, a price-to-earnings-growth ratio of 2.42 and a beta of 1.28.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.08. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Equities research analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current 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.