JPMorgan Chase & Co. Has $335.83 Million Stake in Planet Fitness, Inc. $PLNT

JPMorgan Chase & Co. lessened its position in Planet Fitness, Inc. (NYSE:PLNT) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,079,561 shares of the company’s stock after selling 293,311 shares during the period. JPMorgan Chase & Co. owned 3.66% of Planet Fitness worth $335,826,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Planet Fitness by 18.8% in the first quarter. CWM LLC now owns 1,863 shares of the company’s stock valued at $180,000 after buying an additional 295 shares during the period. IFP Advisors Inc boosted its position in Planet Fitness by 3,783.9% during the 1st quarter. IFP Advisors Inc now owns 1,204 shares of the company’s stock worth $116,000 after buying an additional 1,173 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Planet Fitness during the 1st quarter worth approximately $3,874,000. Cetera Investment Advisers increased its position in Planet Fitness by 6.4% in the 1st quarter. Cetera Investment Advisers now owns 39,389 shares of the company’s stock valued at $3,805,000 after acquiring an additional 2,357 shares during the period. Finally, Assetmark Inc. increased its position in Planet Fitness by 102,616.7% in the 1st quarter. Assetmark Inc. now owns 12,326 shares of the company’s stock valued at $1,191,000 after acquiring an additional 12,314 shares during the period. 95.53% of the stock is currently owned by institutional investors.

Planet Fitness Price Performance

Shares of NYSE:PLNT opened at $108.88 on Tuesday. Planet Fitness, Inc. has a 1 year low of $87.72 and a 1 year high of $114.47. The business’s 50-day moving average is $99.30 and its 200-day moving average is $103.46. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 44.44, a P/E/G ratio of 2.45 and a beta of 1.37.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. During the same period in the previous year, the company posted $0.64 earnings per share. 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. Analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. UBS Group initiated coverage on Planet Fitness in a report on Friday, October 17th. They set a “buy” rating and a $125.00 target price on the stock. Canaccord Genuity Group increased their price target on Planet Fitness from $130.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Royal Bank Of Canada lifted their price objective on Planet Fitness from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.23.

Planet Fitness Company 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.