Swiss National Bank Trims Holdings in Planet Fitness, Inc. $PLNT

Swiss National Bank cut its stake in Planet Fitness, Inc. (NYSE:PLNT) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 160,485 shares of the company’s stock after selling 2,700 shares during the period. Swiss National Bank owned about 0.19% of Planet Fitness worth $17,501,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLNT. Game Plan Financial Advisors LLC bought a new position in Planet Fitness in the 2nd quarter worth about $25,000. Hantz Financial Services Inc. boosted its holdings in shares of Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after purchasing an additional 241 shares during the period. Brooklyn Investment Group boosted its holdings in shares of Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock valued at $31,000 after purchasing an additional 118 shares during the period. New Age Alpha Advisors LLC bought a new position in Planet Fitness in the first quarter worth approximately $65,000. Finally, Farther Finance Advisors LLC increased its holdings in Planet Fitness by 48.7% during the 2nd 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 period. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Shares of PLNT stock opened at $111.94 on Thursday. The stock’s fifty day moving average price is $99.79 and its 200 day moving average price is $103.64. Planet Fitness, Inc. has a 1-year low of $87.72 and a 1-year high of $114.47. The company has a market cap of $9.32 billion, a price-to-earnings ratio of 45.69, a price-to-earnings-growth ratio of 2.49 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.08. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. During the same quarter last year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Macquarie raised their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Stifel Nicolaus lifted their price objective on shares of Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 14th. Canaccord Genuity Group boosted their price objective 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. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $117.23.

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.