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

AustralianSuper Pty Ltd grew its stake in Planet Fitness, Inc. (NYSE:PLNT) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 422,001 shares of the company’s stock after acquiring an additional 42,103 shares during the quarter. AustralianSuper Pty Ltd owned 0.50% of Planet Fitness worth $43,804,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ninety One UK Ltd grew its holdings in Planet Fitness by 20.0% during the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock valued at $359,308,000 after purchasing an additional 577,637 shares during the period. Invesco Ltd. boosted its position in shares of Planet Fitness by 15.0% during the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after purchasing an additional 332,362 shares in the last quarter. Dorsal Capital Management LP grew its holdings in shares of Planet Fitness by 7.6% in the 2nd quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock valued at $269,899,000 after buying an additional 175,000 shares during the period. Geode Capital Management LLC increased its position in shares of Planet Fitness by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,581,406 shares of the company’s stock valued at $172,479,000 after buying an additional 57,103 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Planet Fitness by 8.2% during the 2nd quarter. Franklin Resources Inc. now owns 1,559,976 shares of the company’s stock worth $170,115,000 after buying an additional 117,989 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Price Performance

Shares of Planet Fitness stock opened at $91.59 on Thursday. The business has a fifty day simple moving average of $105.87 and a two-hundred day simple moving average of $103.94. Planet Fitness, Inc. has a 1 year low of $87.72 and a 1 year high of $114.47. The company has a market capitalization of $7.63 billion, a price-to-earnings ratio of 37.38, a P/E/G ratio of 1.56 and a beta of 1.27.

Planet Fitness (NYSE:PLNT) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, equities analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PLNT. Morgan Stanley boosted their target price on Planet Fitness from $123.00 to $128.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Guggenheim upgraded Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research note on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price target on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, UBS Group reiterated a “buy” rating on shares of Planet Fitness in a report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Planet Fitness presently has an average rating of “Buy” and a consensus price target of $123.18.

Planet Fitness Company 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.