Planet Fitness, Inc. (NYSE:PLNT) Shares Acquired by Creative Planning

Creative Planning grew its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,144 shares of the company’s stock after buying an additional 192 shares during the quarter. Creative Planning’s holdings in Planet Fitness were worth $743,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Planet Fitness by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,174,617 shares of the company’s stock valued at $511,976,000 after buying an additional 97,823 shares during the period. Bessemer Group Inc. raised its holdings in Planet Fitness by 24.9% during the first quarter. Bessemer Group Inc. now owns 228,877 shares of the company’s stock worth $14,335,000 after purchasing an additional 45,623 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Planet Fitness during the first quarter worth $1,786,000. Allspring Global Investments Holdings LLC raised its holdings in Planet Fitness by 5.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 223,841 shares of the company’s stock worth $14,019,000 after purchasing an additional 10,564 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Planet Fitness by 4.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 92,400 shares of the company’s stock worth $5,787,000 after purchasing an additional 3,860 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLNT has been the subject of several research reports. Stifel Nicolaus lifted their price objective on Planet Fitness from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Wednesday, October 16th. Robert W. Baird reissued an “outperform” rating and set a $92.00 price target on shares of Planet Fitness in a research report on Monday, August 26th. BMO Capital Markets reissued an “outperform” rating and set a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research report on Wednesday, August 7th. Piper Sandler raised their price target on Planet Fitness from $80.00 to $89.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, Roth Mkm raised their price target on Planet Fitness from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Planet Fitness presently has an average rating of “Moderate Buy” and an average price target of $85.93.

Insider Buying and Selling at Planet Fitness

In other Planet Fitness news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the sale, the chief accounting officer now owns 6,778 shares in the company, valued at $524,549.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.94% of the stock is currently owned by insiders.

Planet Fitness Price Performance

Shares of PLNT opened at $78.97 on Monday. The stock’s 50-day moving average is $81.25 and its two-hundred day moving average is $73.92. The stock has a market cap of $6.73 billion, a PE ratio of 43.39, a P/E/G ratio of 2.63 and a beta of 1.49. Planet Fitness, Inc. has a 12 month low of $54.05 and a 12 month high of $85.08.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The business had revenue of $300.94 million for the quarter, compared to analysts’ expectations of $290.17 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that Planet Fitness, Inc. will post 2.43 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.