JPMorgan Chase & Co. Sells 293,311 Shares of Planet Fitness, Inc. $PLNT

JPMorgan Chase & Co. lowered its position in Planet Fitness, Inc. (NYSE:PLNT) by 8.7% during the 2nd quarter, Holdings Channel reports. The fund owned 3,079,561 shares of the company’s stock after selling 293,311 shares during the period. JPMorgan Chase & Co.’s holdings in Planet Fitness were worth $335,826,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its position in shares of Planet Fitness by 18.8% during the first quarter. CWM LLC now owns 1,863 shares of the company’s stock worth $180,000 after purchasing an additional 295 shares during the period. IFP Advisors Inc increased its stake in Planet Fitness by 3,783.9% during the 1st quarter. IFP Advisors Inc now owns 1,204 shares of the company’s stock valued at $116,000 after purchasing an additional 1,173 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Planet Fitness during the first quarter worth $3,874,000. Cetera Investment Advisers lifted its stake in shares of Planet Fitness by 6.4% in the first quarter. Cetera Investment Advisers now owns 39,389 shares of the company’s stock valued at $3,805,000 after buying an additional 2,357 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Planet Fitness by 102,616.7% during the first quarter. Assetmark Inc. now owns 12,326 shares of the company’s stock valued at $1,191,000 after buying an additional 12,314 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PLNT shares. UBS Group started coverage on shares of Planet Fitness in a research report on Friday, October 17th. They set a “buy” rating and a $125.00 target price for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a report on Wednesday, November 19th. Canaccord Genuity Group increased their price objective on Planet Fitness from $130.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Royal Bank Of Canada lifted their target price on Planet Fitness from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Finally, Morgan Stanley upped their price target on Planet Fitness from $119.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.23.

Planet Fitness Stock Down 0.8%

Shares of NYSE PLNT opened at $108.88 on Tuesday. The company has a market capitalization of $9.07 billion, a PE ratio of 44.44, a PEG ratio of 2.45 and a beta of 1.37. The stock’s 50 day moving average price is $99.30 and its 200-day moving average price is $103.46. Planet Fitness, Inc. has a twelve month low of $87.72 and a twelve month high of $114.47.

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. The business 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%.Planet Fitness’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, research analysts expect that Planet Fitness, Inc. will post 2.51 EPS 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.