Planet Fitness, Inc. $PLNT Shares Sold by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT) by 47.4% during the third quarter, HoldingsChannel reports. The fund owned 72,523 shares of the company’s stock after selling 65,371 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Planet Fitness were worth $7,528,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after purchasing an additional 24,981 shares in the last quarter. Empowered Funds LLC bought a new stake in Planet Fitness in the first quarter valued at about $1,891,000. Wealth Enhancement Advisory Services LLC raised its stake in Planet Fitness by 23.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,816 shares of the company’s stock valued at $411,000 after buying an additional 721 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Planet Fitness by 48.7% during the second quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock valued at $84,000 after buying an additional 253 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Planet Fitness by 19.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,675 shares of the company’s stock worth $292,000 after buying an additional 430 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PLNT shares. Stifel Nicolaus boosted their price target on Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 29th. Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a report on Wednesday, December 10th. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Finally, Morgan Stanley boosted their price objective on shares of Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $123.18.

Planet Fitness Trading Down 0.7%

NYSE PLNT opened at $97.00 on Wednesday. The company has a 50-day moving average price of $107.08 and a two-hundred day moving average price of $104.47. Planet Fitness, Inc. has a 52 week low of $87.72 and a 52 week high of $114.47. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of 39.59, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 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 firm posted $0.64 earnings per share. The business’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. As a group, equities research analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness 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.