Geode Capital Management LLC Purchases 57,103 Shares of Planet Fitness, Inc. $PLNT

Geode Capital Management LLC raised its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 3.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,581,406 shares of the company’s stock after purchasing an additional 57,103 shares during the quarter. Geode Capital Management LLC’s holdings in Planet Fitness were worth $172,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Game Plan Financial Advisors LLC bought a new stake in shares of Planet Fitness during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. increased its stake in Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock worth $29,000 after purchasing an additional 241 shares during the period. Brooklyn Investment Group lifted its position in shares of Planet Fitness by 57.8% during the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock worth $31,000 after purchasing an additional 118 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Planet Fitness during the first quarter valued at $65,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Planet Fitness by 48.7% in the second quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock worth $84,000 after purchasing an additional 253 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PLNT. Macquarie lifted their price objective 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. Stifel Nicolaus lifted their price target on shares of Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank Of Canada increased their price objective on Planet Fitness from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a report on Thursday, August 7th. Finally, Cowen reiterated a “buy” rating on shares of Planet Fitness in a report on Friday. One research 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.com, Planet Fitness currently has an average rating of “Moderate Buy” and an average target price of $117.23.

Planet Fitness Stock Performance

NYSE PLNT opened at $103.59 on Wednesday. The company has a market cap of $8.63 billion, a PE ratio of 42.28, a P/E/G ratio of 2.28 and a beta of 1.37. The firm’s 50 day moving average price is $98.89 and its 200-day moving average price is $103.24. Planet Fitness, Inc. has a 52-week low of $87.72 and a 52-week high of $114.47.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The company 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%. Planet Fitness’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 firm posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

About Planet Fitness

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.