24,145 Shares in Planet Fitness, Inc. $PLNT Bought by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP bought a new position in Planet Fitness, Inc. (NYSE:PLNT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,145 shares of the company’s stock, valued at approximately $2,633,000.

A number of other large investors have also recently added to or reduced their stakes in PLNT. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Planet Fitness by 6.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company’s stock valued at $812,213,000 after purchasing an additional 496,047 shares in the last quarter. Vanguard Group Inc. raised its position in Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company’s stock valued at $782,394,000 after buying an additional 62,716 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company’s stock valued at $317,810,000 after acquiring an additional 1,268,262 shares in the last quarter. Ninety One UK Ltd lifted its stake 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 in the last quarter. Finally, Invesco Ltd. boosted its position in Planet Fitness by 358.0% during the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company’s stock worth $213,618,000 after acquiring an additional 1,728,407 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PLNT shares. Jefferies Financial Group reiterated a “buy” rating on shares of Planet Fitness in a report on Wednesday, September 24th. Morgan Stanley lifted their price target on shares of Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. UBS Group began coverage on shares of Planet Fitness in a research note on Friday, October 17th. They set a “buy” rating and a $125.00 price objective for the company. Stifel Nicolaus raised 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. Finally, 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 report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $117.23.

Planet Fitness Stock Performance

Planet Fitness stock opened at $111.94 on Friday. Planet Fitness, Inc. has a 52 week low of $87.72 and a 52 week high of $114.47. The stock has a market capitalization of $9.32 billion, a P/E ratio of 45.69, a PEG ratio of 2.50 and a beta of 1.37. The stock has a 50-day simple moving average of $100.03 and a 200 day simple moving average of $103.70.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings data 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 firm had revenue of $330.35 million for the quarter, compared to analyst estimates of $323.95 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.