Federated Hermes Inc. Has $78.17 Million Stock Holdings in Planet Fitness, Inc. $PLNT

Federated Hermes Inc. increased its position in Planet Fitness, Inc. (NYSE:PLNT) by 21.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 753,079 shares of the company’s stock after purchasing an additional 130,687 shares during the quarter. Federated Hermes Inc. owned approximately 0.89% of Planet Fitness worth $78,170,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. ABN AMRO Bank N.V. acquired a new position in Planet Fitness during the second quarter valued at approximately $13,214,000. Inceptionr LLC acquired a new stake in Planet Fitness in the second quarter worth $356,000. Advantage Alpha Capital Partners LP bought a new position in shares of Planet Fitness during the second quarter worth $2,633,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Planet Fitness in the 2nd quarter valued at $883,000. Finally, Csenge Advisory Group increased its position in shares of Planet Fitness by 41.0% in the 3rd quarter. Csenge Advisory Group now owns 33,468 shares of the company’s stock valued at $3,474,000 after buying an additional 9,726 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PLNT. William Blair restated an “outperform” rating on shares of Planet Fitness in a report on Tuesday, January 13th. TD Cowen reiterated a “buy” rating on shares of Planet Fitness in a report on Wednesday, January 14th. JPMorgan Chase & Co. upped their target price on shares of Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. UBS Group reissued a “buy” rating on shares of Planet Fitness in a research note on Friday, January 9th. Finally, Macquarie boosted their price target on Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Planet Fitness presently has an average rating of “Buy” and an average price target of $123.18.

Planet Fitness Stock Performance

PLNT opened at $91.59 on Thursday. The business’s 50-day simple moving average is $105.87 and its 200 day simple moving average is $103.94. Planet Fitness, Inc. has a 52-week low of $87.72 and a 52-week high of $114.47. The firm has a market capitalization of $7.63 billion, a PE ratio of 37.38, a PEG ratio of 1.56 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 earnings per share for the quarter, topping 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 previous year, the firm earned $0.64 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. On average, research analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

About Planet Fitness

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.