Loomis Sayles & Co. L P Acquires 13,993 Shares of Planet Fitness, Inc. $PLNT

Loomis Sayles & Co. L P lifted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,152 shares of the company’s stock after buying an additional 13,993 shares during the period. Loomis Sayles & Co. L P owned approximately 0.30% of Planet Fitness worth $27,388,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Planet Fitness during the 2nd quarter valued at about $116,175,000. Hsbc Holdings PLC grew its stake in shares of Planet Fitness by 694.8% in the second quarter. Hsbc Holdings PLC now owns 22,065 shares of the company’s stock worth $2,371,000 after acquiring an additional 19,289 shares during the period. Advantage Alpha Capital Partners LP purchased a new position in shares of Planet Fitness during the second quarter valued at approximately $2,633,000. State Board of Administration of Florida Retirement System lifted its position in Planet Fitness by 0.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 82,720 shares of the company’s stock valued at $9,021,000 after purchasing an additional 570 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in Planet Fitness during the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

NYSE PLNT opened at $111.97 on Friday. The business’s fifty day moving average is $100.24 and its 200 day moving average is $103.89. Planet Fitness, Inc. has a fifty-two week low of $87.72 and a fifty-two week high of $114.47. The company has a market capitalization of $9.33 billion, a PE ratio of 45.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $323.95 million. During the same quarter in the prior year, the business posted $0.64 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on PLNT. Royal Bank Of Canada lifted their target price on shares of Planet Fitness from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. JPMorgan Chase & Co. raised their price target on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Macquarie upped their price objective on Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a report on Tuesday. Finally, Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $117.23.

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.