Planet Fitness, Inc. $PLNT Shares Sold by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. reduced its position in Planet Fitness, Inc. (NYSE:PLNT) by 92.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,310 shares of the company’s stock after selling 61,360 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Planet Fitness were worth $551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Planet Fitness during the 2nd quarter worth $116,175,000. Ninety One UK Ltd boosted its holdings in Planet Fitness by 35.7% in the second quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company’s stock worth $314,490,000 after acquiring an additional 759,227 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Planet Fitness by 152.8% in the second quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after acquiring an additional 514,876 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of Planet Fitness during the second quarter worth about $41,428,000. Finally, Invesco Ltd. increased its holdings in shares of Planet Fitness by 15.0% during the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock valued at $277,369,000 after acquiring an additional 332,362 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of PLNT opened at $97.83 on Friday. The business’s 50-day moving average is $107.40 and its two-hundred day moving average is $104.62. The company has a market capitalization of $8.15 billion, a P/E ratio of 39.93, a P/E/G ratio of 1.87 and a beta of 1.27. Planet Fitness, Inc. has a fifty-two week low of $87.72 and a fifty-two week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.08. The business 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 company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

PLNT has been the subject of a number of recent analyst reports. Macquarie lifted their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a research note on Friday, January 9th. Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. William Blair restated an “outperform” rating on shares of Planet Fitness in a research note on Tuesday. Finally, Canaccord Genuity Group boosted their price target on Planet Fitness from $130.00 to $139.00 and gave the company 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.08.

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.