Hudson Bay Capital Management LP Makes New Investment in Planet Fitness, Inc. $PLNT

Hudson Bay Capital Management LP bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 99,086 shares of the company’s stock, valued at approximately $10,805,000.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. increased its stake in shares of Planet Fitness by 10.8% during the first quarter. Raymond James Financial Inc. now owns 33,476 shares of the company’s stock valued at $3,234,000 after buying an additional 3,253 shares during the period. Versor Investments LP purchased a new stake in Planet Fitness in the first quarter worth about $1,545,000. Inceptionr LLC bought a new position in Planet Fitness during the 2nd quarter worth about $356,000. ABN AMRO Bank N.V. purchased a new position in Planet Fitness during the 2nd quarter valued at about $13,214,000. Finally, Credit Agricole S A bought a new stake in shares of Planet Fitness in the 1st quarter valued at about $1,588,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Trading Up 0.1%

Shares of PLNT stock opened at $108.64 on Monday. Planet Fitness, Inc. has a 12-month low of $87.72 and a 12-month high of $114.47. The business’s fifty day simple moving average is $101.47 and its 200-day simple moving average is $104.36. The company has a market cap of $9.05 billion, a PE ratio of 44.34, a PEG ratio of 2.42 and a beta of 1.27.

Planet Fitness (NYSE:PLNT) last announced its 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 firm had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. During the same period in the previous year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, equities analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. UBS Group started coverage on Planet Fitness in a report on Friday, October 17th. They set a “buy” rating and a $125.00 target price for the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $135.00 price target on shares of Planet Fitness in a report on Tuesday, December 9th. Cowen reissued a “buy” rating on shares of Planet Fitness in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.92.

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.