Planet Fitness, Inc. $PLNT Shares Sold by KBC Group NV

KBC Group NV reduced its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 36.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,212 shares of the company’s stock after selling 1,291 shares during the period. KBC Group NV’s holdings in Planet Fitness were worth $241,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PLNT. Vanguard Group Inc. grew its position in Planet Fitness by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock worth $782,394,000 after purchasing an additional 62,716 shares during the period. LPL Financial LLC boosted its stake in shares of Planet Fitness by 13.9% in the first quarter. LPL Financial LLC now owns 50,890 shares of the company’s stock worth $4,810,000 after buying an additional 6,228 shares during the last quarter. Versor Investments LP acquired a new stake in Planet Fitness during the first quarter worth about $1,545,000. Sei Investments Co. raised its position in Planet Fitness by 2.5% during the first quarter. Sei Investments Co. now owns 113,026 shares of the company’s stock valued at $11,165,000 after acquiring an additional 2,761 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Planet Fitness by 10.8% in the first quarter. Raymond James Financial Inc. now owns 33,476 shares of the company’s stock valued at $3,234,000 after acquiring an additional 3,253 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley raised their price target on shares of Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research report on Thursday, November 13th. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $117.23.

Planet Fitness Stock Performance

NYSE:PLNT opened at $103.59 on Wednesday. The stock has a market capitalization of $8.63 billion, a PE ratio of 42.28, a P/E/G ratio of 2.28 and a beta of 1.37. Planet Fitness, Inc. has a fifty-two week low of $87.72 and a fifty-two week high of $114.47. The company has a fifty day moving average of $98.89 and a two-hundred day moving average of $103.24.

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