Rhumbline Advisers Increases Stake in Planet Fitness, Inc. $PLNT

Rhumbline Advisers boosted its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 240,397 shares of the company’s stock after purchasing an additional 6,549 shares during the period. Rhumbline Advisers’ holdings in Planet Fitness were worth $26,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLNT. Invesco Ltd. lifted its position in Planet Fitness by 358.0% during the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock worth $213,618,000 after acquiring an additional 1,728,407 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock worth $317,810,000 after acquiring an additional 1,268,262 shares in the last quarter. Ninety One UK Ltd raised its position in Planet Fitness by 35.7% during 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 during the period. Junto Capital Management LP acquired a new position in Planet Fitness during the first quarter worth $52,580,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Planet Fitness by 6.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock valued at $812,213,000 after purchasing an additional 496,047 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PLNT shares. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Morgan Stanley boosted their price objective on Planet Fitness from $119.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 12th. Royal Bank Of Canada increased their target price on Planet Fitness from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Macquarie boosted their price target on Planet Fitness from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.23.

Planet Fitness Price Performance

PLNT stock opened at $111.94 on Thursday. Planet Fitness, Inc. has a 1 year low of $87.72 and a 1 year high of $114.47. The firm has a market capitalization of $9.32 billion, a PE ratio of 45.69, a price-to-earnings-growth ratio of 2.49 and a beta of 1.37. The business has a 50 day simple moving average of $99.79 and a 200-day simple moving average of $103.64.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $330.35 million for the quarter, compared to analyst estimates 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 for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, equities research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Planet Fitness 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.