2Xideas AG Has $12.31 Million Stake in Planet Fitness, Inc. $PLNT

2Xideas AG cut its position in Planet Fitness, Inc. (NYSE:PLNT) by 10.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,894 shares of the company’s stock after selling 13,488 shares during the quarter. Planet Fitness accounts for about 2.1% of 2Xideas AG’s portfolio, making the stock its 12th largest holding. 2Xideas AG’s holdings in Planet Fitness were worth $12,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System boosted its position in shares of Planet Fitness by 0.5% during the 2nd quarter. State of Michigan Retirement System now owns 20,200 shares of the company’s stock worth $2,203,000 after acquiring an additional 100 shares in the last quarter. Emerald Advisers LLC lifted its stake in Planet Fitness by 1.9% during the second quarter. Emerald Advisers LLC now owns 5,572 shares of the company’s stock worth $608,000 after purchasing an additional 104 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Planet Fitness by 57.8% in the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Planet Fitness by 4.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,235 shares of the company’s stock valued at $313,000 after purchasing an additional 126 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Planet Fitness by 3.7% in the 2nd quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock valued at $405,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

Planet Fitness stock opened at $109.09 on Tuesday. The business has a 50 day moving average of $101.02 and a 200-day moving average of $104.25. The company has a market capitalization of $9.09 billion, a P/E ratio of 44.52, a P/E/G ratio of 2.48 and a beta of 1.27. Planet Fitness, Inc. has a 1 year low of $87.72 and a 1 year high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The business had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. During the same period last year, the company earned $0.64 EPS. The firm’s revenue 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. Equities analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLNT. Royal Bank Of Canada upped their price objective on Planet Fitness from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research note on Monday, December 1st. UBS Group began coverage on shares of Planet Fitness in a report on Friday, October 17th. They issued a “buy” rating and a $125.00 target price for the company. Stifel Nicolaus raised their price target on shares of Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, Morgan Stanley lifted their price target on shares of Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.23.

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.