Osaic Holdings Inc. Purchases 6,195 Shares of Planet Fitness, Inc. $PLNT

Osaic Holdings Inc. increased its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 69.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,175 shares of the company’s stock after acquiring an additional 6,195 shares during the period. Osaic Holdings Inc.’s holdings in Planet Fitness were worth $1,648,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. American Trust purchased a new position in Planet Fitness in the second quarter worth $208,000. Orion Porfolio Solutions LLC raised its stake in shares of 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 purchasing an additional 997 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of Planet Fitness in the 2nd quarter worth about $10,805,000. Public Sector Pension Investment Board bought a new position in Planet Fitness during the second quarter valued at about $3,957,000. Finally, Evergreen Capital Management LLC increased its holdings in Planet Fitness by 50.3% during the second quarter. Evergreen Capital Management LLC now owns 3,280 shares of the company’s stock worth $358,000 after buying an additional 1,098 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on PLNT shares. Stifel Nicolaus boosted their target price 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. Royal Bank Of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Planet Fitness in a research note on Tuesday, December 9th. Jefferies Financial Group reissued a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Canaccord Genuity Group boosted their target price on Planet Fitness from $130.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Finally, UBS Group began coverage on Planet Fitness in a research report on Friday, October 17th. They set a “buy” rating and a $125.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.92.

Planet Fitness Trading Up 0.3%

Planet Fitness stock opened at $109.39 on Tuesday. The firm has a 50 day simple moving average of $104.87 and a 200 day simple moving average of $104.84. Planet Fitness, Inc. has a 1-year low of $87.72 and a 1-year high of $114.47. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 2.43 and a beta of 1.27.

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