Hussman Strategic Advisors Inc. Purchases 10,500 Shares of Planet Fitness, Inc. $PLNT

Hussman Strategic Advisors Inc. boosted its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 100.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,000 shares of the company’s stock after acquiring an additional 10,500 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Planet Fitness were worth $2,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PLNT. State of Michigan Retirement System raised its stake in shares of Planet Fitness by 0.5% in the second quarter. State of Michigan Retirement System now owns 20,200 shares of the company’s stock worth $2,203,000 after purchasing an additional 100 shares during the last quarter. Emerald Advisers LLC raised its position in Planet Fitness by 1.9% in the 2nd quarter. Emerald Advisers LLC now owns 5,572 shares of the company’s stock worth $608,000 after buying an additional 104 shares during the last quarter. ProShare Advisors LLC lifted its stake in Planet Fitness by 3.7% during the 2nd quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock valued at $405,000 after acquiring an additional 132 shares during the period. M&T Bank Corp boosted its holdings in shares of Planet Fitness by 3.6% during the 2nd quarter. M&T Bank Corp now owns 4,488 shares of the company’s stock valued at $490,000 after acquiring an additional 154 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Planet Fitness by 9.4% in the third quarter. QRG Capital Management Inc. now owns 2,121 shares of the company’s stock worth $220,000 after acquiring an additional 183 shares during the period. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PLNT shares. William Blair restated an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Morgan Stanley increased their price target on Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Canaccord Genuity Group lifted their price objective on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. JPMorgan Chase & Co. increased 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $123.18.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $92.64 on Wednesday. The stock has a market cap of $7.72 billion, a P/E ratio of 37.81, a P/E/G ratio of 1.57 and a beta of 1.27. The stock’s fifty day moving average is $106.12 and its 200 day moving average is $104.02. Planet Fitness, Inc. has a one year low of $87.72 and a one year high of $114.47.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $330.35 million during the quarter, compared to analyst estimates of $323.95 million. During the same quarter in the previous year, the company 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. Analysts predict 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.