Swiss National Bank Trims Stock Holdings in Planet Fitness, Inc. $PLNT

Swiss National Bank lessened its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,485 shares of the company’s stock after selling 2,700 shares during the quarter. Swiss National Bank’s holdings in Planet Fitness were worth $17,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Game Plan Financial Advisors LLC purchased a new position in shares of Planet Fitness in the second quarter worth about $25,000. Hantz Financial Services Inc. increased its holdings in Planet Fitness by 964.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after buying an additional 241 shares during the period. Brooklyn Investment Group raised its position in 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 buying an additional 118 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in Planet Fitness during the 1st quarter worth approximately $65,000. Finally, Farther Finance Advisors LLC lifted its stake in Planet Fitness by 48.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock valued at $84,000 after acquiring an additional 253 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLNT has been the subject of a number of recent research reports. Cowen reiterated a “buy” rating on shares of Planet Fitness in a research note on Friday, November 14th. Morgan Stanley lifted their price target on Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Stifel Nicolaus upped their price objective on Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Macquarie lifted their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Finally, UBS Group started coverage on shares of Planet Fitness in a research note on Friday, October 17th. They issued a “buy” rating and a $125.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Planet Fitness has a consensus rating of “Moderate Buy” and a consensus price target of $117.23.

Planet Fitness Stock Up 0.2%

PLNT opened at $111.94 on Thursday. The firm’s fifty day simple moving average is $99.79 and its two-hundred day simple moving average is $103.64. Planet Fitness, Inc. has a 52-week low of $87.72 and a 52-week high of $114.47. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 45.69, a PEG ratio of 2.49 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last released 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. The firm had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

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.