Pacer Advisors Inc. Has $1.15 Million Position in Planet Fitness, Inc. $PLNT

Pacer Advisors Inc. boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 234.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,060 shares of the company’s stock after buying an additional 7,756 shares during the quarter. Pacer Advisors Inc.’s holdings in Planet Fitness were worth $1,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ninety One UK Ltd increased its position in Planet Fitness by 35.7% in the 2nd quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company’s stock valued at $314,490,000 after acquiring an additional 759,227 shares during the period. Invesco Ltd. grew its stake in shares of Planet Fitness by 15.0% in the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after purchasing an additional 332,362 shares during the last quarter. Dorsal Capital Management LP grew its stake in shares of Planet Fitness by 7.6% in the second quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock worth $269,899,000 after purchasing an additional 175,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in Planet Fitness by 3.7% in the second quarter. Geode Capital Management LLC now owns 1,581,406 shares of the company’s stock valued at $172,479,000 after purchasing an additional 57,103 shares during the period. Finally, Franklin Resources Inc. raised its position in Planet Fitness by 8.2% during the 2nd quarter. Franklin Resources Inc. now owns 1,559,976 shares of the company’s stock worth $170,115,000 after purchasing an additional 117,989 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Performance

Planet Fitness stock opened at $108.51 on Friday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 44.29, a PEG ratio of 2.42 and a beta of 1.27. Planet Fitness, Inc. has a 52-week low of $87.72 and a 52-week high of $114.47. The stock’s 50 day moving average price is $105.61 and its two-hundred day moving average price is $104.94.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. Planet Fitness’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. 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.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Cowen reiterated a “buy” rating on shares of Planet Fitness in a research report on Friday, November 14th. JPMorgan Chase & Co. upped their target price on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $135.00 target price on shares of Planet Fitness in a research report on Tuesday, December 9th. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Canaccord Genuity Group upped their price objective on shares of Planet Fitness from $130.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and an average price target of $119.92.

Planet Fitness Company 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.