Osborne Partners Capital Management LLC Lowers Holdings in Planet Fitness, Inc. $PLNT

Osborne Partners Capital Management LLC reduced its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 47.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,523 shares of the company’s stock after selling 65,371 shares during the period. Osborne Partners Capital Management LLC owned 0.09% of Planet Fitness worth $7,528,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Game Plan Financial Advisors LLC acquired a new position in Planet Fitness during the second quarter worth approximately $25,000. Hantz Financial Services Inc. grew its stake in shares of Planet Fitness by 964.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after buying an additional 241 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Planet Fitness by 184.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after buying an additional 214 shares during the period. SJS Investment Consulting Inc. increased its holdings in shares of Planet Fitness by 6,950.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after buying an additional 417 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Planet Fitness in the 2nd quarter worth $53,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Planet Fitness Trading Down 0.7%

NYSE PLNT opened at $97.00 on Wednesday. The stock has a market cap of $8.08 billion, a P/E ratio of 39.59, a PEG ratio of 1.87 and a beta of 1.27. The company’s fifty day simple moving average is $107.08 and its 200-day simple moving average is $104.47. Planet Fitness, Inc. has a 52 week low of $87.72 and a 52 week high of $114.47.

Planet Fitness (NYSE:PLNT) last announced its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, beating 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 company had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. During the same period last year, the firm earned $0.64 earnings per share. The company’s 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. On average, research analysts expect that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Morgan Stanley boosted their price target on Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research note on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of Planet Fitness in a research report on Wednesday, January 14th. William Blair restated an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Planet Fitness presently has an average rating of “Buy” and a consensus price target of $123.18.

Planet Fitness Company Profile

Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.

The company operates through a network of franchised and company-owned clubs.