AustralianSuper Pty Ltd Acquires 42,103 Shares of Planet Fitness, Inc. $PLNT

AustralianSuper Pty Ltd boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 11.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 422,001 shares of the company’s stock after acquiring an additional 42,103 shares during the period. AustralianSuper Pty Ltd’s holdings in Planet Fitness were worth $43,804,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ABN AMRO Bank N.V. bought a new position in Planet Fitness in the second quarter valued at approximately $13,214,000. Inceptionr LLC acquired a new stake in shares of Planet Fitness in the 2nd quarter valued at $356,000. Advantage Alpha Capital Partners LP acquired a new stake in shares of Planet Fitness in the 2nd quarter valued at $2,633,000. Y Intercept Hong Kong Ltd bought a new position in shares of Planet Fitness in the 2nd quarter valued at $883,000. Finally, Csenge Advisory Group raised its holdings in shares of Planet Fitness by 41.0% during the 3rd quarter. Csenge Advisory Group now owns 33,468 shares of the company’s stock worth $3,474,000 after buying an additional 9,726 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Performance

Shares of NYSE PLNT opened at $91.59 on Thursday. The firm has a 50 day moving average price of $105.87 and a two-hundred day moving average price of $103.94. The stock has a market cap of $7.63 billion, a P/E ratio of 37.38, a price-to-earnings-growth ratio of 1.56 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.

Planet Fitness (NYSE:PLNT) last issued 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 company had revenue of $330.35 million for the quarter, compared to analyst estimates 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 revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PLNT shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Macquarie lifted 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. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a research report on Friday, January 9th. Morgan Stanley increased their price objective on shares of Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, Canaccord Genuity Group boosted their target price on shares of Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Planet Fitness currently has a consensus rating of “Buy” and a consensus price target of $123.18.

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.