Federated Hermes Inc. Trims Stake in Planet Fitness, Inc. $PLNT

Federated Hermes Inc. lowered its position in Planet Fitness, Inc. (NYSE:PLNT) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 622,392 shares of the company’s stock after selling 37,207 shares during the period. Federated Hermes Inc. owned approximately 0.74% of Planet Fitness worth $67,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PLNT. Game Plan Financial Advisors LLC purchased a new stake in shares of Planet Fitness in the second quarter worth approximately $25,000. Hantz Financial Services Inc. boosted its holdings in Planet Fitness by 964.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after acquiring an additional 241 shares during the period. Brooklyn Investment Group increased its stake in Planet Fitness by 57.8% in the first quarter. Brooklyn Investment Group now owns 322 shares of the company’s stock worth $31,000 after purchasing an additional 118 shares during the period. EverSource Wealth Advisors LLC increased its stake in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Planet Fitness during the second quarter worth $53,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

NYSE:PLNT opened at $111.26 on Monday. Planet Fitness, Inc. has a 1-year low of $87.72 and a 1-year high of $114.47. The company has a 50-day moving average of $100.94 and a 200 day moving average of $104.22. The firm has a market cap of $9.27 billion, a PE ratio of 45.41, a price-to-earnings-growth ratio of 2.48 and a beta of 1.27.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. Planet Fitness had a net margin of 15.97% and a negative return on equity of 126.58%. 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 business posted $0.64 EPS. The company’s quarterly revenue 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. Sell-side analysts anticipate that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cowen reissued a “buy” rating on shares of Planet Fitness in a research note on Friday, November 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 1st. JPMorgan Chase & Co. boosted their price objective on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Canaccord Genuity Group upped their target price on shares of Planet Fitness from $130.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Finally, Royal Bank Of Canada raised their target price on shares of Planet Fitness from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and an average price target 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.