Exchange Traded Concepts LLC Takes $802,000 Position in Planet Fitness, Inc. $PLNT

Exchange Traded Concepts LLC bought a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,724 shares of the company’s stock, valued at approximately $802,000.

A number of other large investors also recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC purchased a new stake in Planet Fitness during the third quarter valued at about $485,000. Osaic Holdings Inc. boosted its holdings in Planet Fitness by 69.0% during the 2nd quarter. Osaic Holdings Inc. now owns 15,175 shares of the company’s stock valued at $1,648,000 after acquiring an additional 6,195 shares during the period. American Trust purchased a new stake in Planet Fitness during the 2nd quarter valued at about $208,000. Orion Porfolio Solutions LLC grew its position in Planet Fitness by 8.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 12,512 shares of the company’s stock worth $1,364,000 after acquiring an additional 997 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new position in Planet Fitness during the 2nd quarter worth approximately $10,805,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 0.8%

Shares of Planet Fitness stock opened at $109.06 on Monday. The business has a 50 day moving average of $104.58 and a 200 day moving average of $104.80. Planet Fitness, Inc. has a 52 week low of $87.72 and a 52 week high of $114.47. The company has a market cap of $9.08 billion, a PE ratio of 44.52, a P/E/G ratio of 2.43 and a beta of 1.27.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.08. The business had revenue of $330.35 million for the quarter, compared to analysts’ expectations of $323.95 million. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on PLNT shares. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Canaccord Genuity Group lifted their target price on shares of Planet Fitness from $130.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Macquarie upped their price target on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus target price of $119.92.

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.