Ninety One SA PTY Ltd Boosts Position in Planet Fitness, Inc. $PLNT

Ninety One SA PTY Ltd boosted its position in Planet Fitness, Inc. (NYSE:PLNT) by 75.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 79,306 shares of the company’s stock after purchasing an additional 34,188 shares during the period. Ninety One SA PTY Ltd’s holdings in Planet Fitness were worth $8,232,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. grew its position in Planet Fitness by 10.8% during the first quarter. Raymond James Financial Inc. now owns 33,476 shares of the company’s stock valued at $3,234,000 after buying an additional 3,253 shares during the period. ABN AMRO Bank N.V. bought a new position in Planet Fitness in the second quarter worth approximately $13,214,000. Inceptionr LLC purchased a new position in shares of Planet Fitness during the 2nd quarter worth $356,000. Advantage Alpha Capital Partners LP bought a new stake in shares of Planet Fitness during the 2nd quarter valued at $2,633,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Planet Fitness in the 2nd quarter worth $883,000. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Stock Down 0.6%

Shares of Planet Fitness stock opened at $108.51 on Thursday. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 44.29, a PEG ratio of 2.44 and a beta of 1.28. The stock’s 50-day simple moving average is $105.36 and its 200-day simple moving average is $104.92. Planet Fitness, Inc. has a 52 week low of $87.72 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) 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 analysts’ expectations of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, equities analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PLNT. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a research note on Wednesday, December 10th. Cowen reissued a “buy” rating on shares of Planet Fitness in a report on Friday, November 14th. Finally, Canaccord Genuity Group raised their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $119.92.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.