Allspring Global Investments Holdings LLC Reduces Position in Planet Fitness, Inc. $PLNT

Allspring Global Investments Holdings LLC decreased its position in Planet Fitness, Inc. (NYSE:PLNT) by 5.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,239 shares of the company’s stock after selling 7,706 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Planet Fitness were worth $15,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. increased its holdings in shares of Planet Fitness by 10.8% in the first quarter. Raymond James Financial Inc. now owns 33,476 shares of the company’s stock valued at $3,234,000 after purchasing an additional 3,253 shares during the period. ABN AMRO Bank N.V. purchased a new stake in Planet Fitness in the second quarter valued at approximately $13,214,000. Inceptionr LLC acquired a new position in Planet Fitness in the 2nd quarter worth approximately $356,000. Advantage Alpha Capital Partners LP purchased a new position in Planet Fitness during the 2nd quarter worth approximately $2,633,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Planet Fitness during the 2nd quarter worth approximately $883,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Up 1.1%

NYSE:PLNT opened at $109.70 on Monday. 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 $105.83 and its 200-day moving average price is $104.97. The stock has a market capitalization of $9.14 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.27.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $330.35 million for the quarter, compared to the consensus estimate of $323.95 million. During the same quarter in the prior year, the business posted $0.64 earnings per share. Planet Fitness’s revenue for the quarter was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Sell-side analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PLNT has been the topic of several recent research reports. UBS Group initiated coverage on shares of Planet Fitness in a report on Friday, October 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $135.00 price target on shares of Planet Fitness in a research report on Tuesday, December 9th. Stifel Nicolaus boosted their price objective on Planet Fitness from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 14th. Canaccord Genuity Group upped their target price on Planet Fitness from $130.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $119.92.

About Planet Fitness

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.