Charles Schwab Investment Management Inc. Sells 18,017 Shares of Planet Fitness, Inc. $PLNT

Charles Schwab Investment Management Inc. lowered its stake in Planet Fitness, Inc. (NYSE:PLNT) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 888,158 shares of the company’s stock after selling 18,017 shares during the period. Charles Schwab Investment Management Inc. owned 1.05% of Planet Fitness worth $96,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Planet Fitness by 6.4% in the first quarter. Cetera Investment Advisers now owns 39,389 shares of the company’s stock worth $3,805,000 after acquiring an additional 2,357 shares during the last quarter. Assetmark Inc. boosted its stake in Planet Fitness by 102,616.7% in the 1st quarter. Assetmark Inc. now owns 12,326 shares of the company’s stock worth $1,191,000 after purchasing an additional 12,314 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Planet Fitness by 2.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,754 shares of the company’s stock valued at $2,102,000 after purchasing an additional 607 shares during the last quarter. LPL Financial LLC increased its stake in Planet Fitness by 13.9% during the 1st quarter. LPL Financial LLC now owns 50,890 shares of the company’s stock valued at $4,810,000 after purchasing an additional 6,228 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in Planet Fitness by 92.5% in the first quarter. Natixis Advisors LLC now owns 27,799 shares of the company’s stock worth $2,686,000 after buying an additional 13,361 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

PLNT stock opened at $111.97 on Friday. Planet Fitness, Inc. has a 1 year low of $87.72 and a 1 year high of $114.47. The company has a market cap of $9.33 billion, a P/E ratio of 45.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.37. The stock’s fifty day moving average price is $100.24 and its 200-day moving average price is $103.83.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.80 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $323.95 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. Planet Fitness’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. As a group, analysts expect that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLNT has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating on shares of Planet Fitness in a report on Friday, November 14th. Macquarie increased their target price on Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Raymond James Financial restated a “strong-buy” rating on shares of Planet Fitness in a research note on Thursday, August 7th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Finally, Royal Bank Of Canada lifted their price objective on Planet Fitness from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.23.

Planet Fitness Company Profile

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.