KBC Group NV Decreases Stake in Planet Fitness, Inc. $PLNT

KBC Group NV decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 36.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,212 shares of the company’s stock after selling 1,291 shares during the quarter. KBC Group NV’s holdings in Planet Fitness were worth $241,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PLNT. Vanguard Group Inc. boosted its position in Planet Fitness by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock worth $782,394,000 after acquiring an additional 62,716 shares during the last quarter. LPL Financial LLC lifted its stake in Planet Fitness by 13.9% in the 1st quarter. LPL Financial LLC now owns 50,890 shares of the company’s stock worth $4,810,000 after purchasing an additional 6,228 shares in the last quarter. Versor Investments LP acquired a new position in shares of Planet Fitness during the 1st quarter worth approximately $1,545,000. Sei Investments Co. boosted its holdings in shares of Planet Fitness by 2.5% during the 1st quarter. Sei Investments Co. now owns 113,026 shares of the company’s stock worth $11,165,000 after purchasing an additional 2,761 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of 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 purchasing an additional 3,253 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

NYSE PLNT opened at $103.59 on Wednesday. The stock has a market capitalization of $8.63 billion, a P/E ratio of 42.28, a PEG ratio of 2.28 and a beta of 1.37. The firm’s 50-day moving average is $98.89 and its two-hundred day moving average is $103.24. Planet Fitness, Inc. has a 12 month low of $87.72 and a 12 month high of $114.47.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PLNT. Stifel Nicolaus lifted their price objective on Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday. Cowen reiterated a “buy” rating on shares of Planet Fitness in a report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Thursday, November 13th. Canaccord Genuity Group upped their price objective on shares of Planet Fitness from $130.00 to $139.00 and gave the company a “buy” rating in a report on Monday. Finally, Macquarie lifted their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.23.

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.