Impax Asset Management Group plc Increases Position in Planet Fitness, Inc. $PLNT

Impax Asset Management Group plc boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 14.4% in the second quarter, HoldingsChannel reports. The firm owned 159,271 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Impax Asset Management Group plc’s holdings in Planet Fitness were worth $17,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC acquired a new position in shares of Planet Fitness in the 2nd quarter valued at approximately $25,000. Hantz Financial Services Inc. increased its stake 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 worth $29,000 after buying an additional 241 shares during the last quarter. Brooklyn Investment Group raised its holdings in 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 acquiring an additional 118 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Planet Fitness in the first quarter valued at $65,000. Finally, Farther Finance Advisors LLC boosted its stake in Planet Fitness by 48.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock valued at $84,000 after acquiring an additional 253 shares during the last quarter. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Trading Down 2.0%

Shares of Planet Fitness stock opened at $103.71 on Thursday. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.35 and a beta of 1.37. Planet Fitness, Inc. has a twelve month low of $87.72 and a twelve month high of $114.47. The business’s 50 day simple moving average is $98.79 and its 200-day simple moving average is $102.95.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The business had revenue of $330.35 million during 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%.During the same quarter in the previous year, the firm posted $0.64 EPS. The business’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. Sell-side analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group began coverage on shares of Planet Fitness in a research note on Friday, October 17th. They issued a “buy” rating and a $125.00 target price on the stock. Morgan Stanley upped their price objective on Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group boosted their price target on Planet Fitness from $126.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Royal Bank Of Canada upped their price target on Planet Fitness from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.77.

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.