Planet Fitness, Inc. $PLNT Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its position in Planet Fitness, Inc. (NYSE:PLNT) by 334.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,958 shares of the company’s stock after acquiring an additional 19,217 shares during the quarter. Vontobel Holding Ltd.’s holdings in Planet Fitness were worth $2,591,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLNT. State of Michigan Retirement System grew its stake in shares of Planet Fitness by 0.5% during the second quarter. State of Michigan Retirement System now owns 20,200 shares of the company’s stock valued at $2,203,000 after acquiring an additional 100 shares in the last quarter. Emerald Advisers LLC boosted its holdings in Planet Fitness by 1.9% in the second quarter. Emerald Advisers LLC now owns 5,572 shares of the company’s stock valued at $608,000 after purchasing an additional 104 shares during the last quarter. ProShare Advisors LLC grew its stake in Planet Fitness by 3.7% during the 2nd quarter. ProShare Advisors LLC now owns 3,718 shares of the company’s stock valued at $405,000 after purchasing an additional 132 shares in the last quarter. M&T Bank Corp grew its stake in Planet Fitness by 3.6% during the 2nd quarter. M&T Bank Corp now owns 4,488 shares of the company’s stock valued at $490,000 after purchasing an additional 154 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in Planet Fitness by 5.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,014 shares of the company’s stock worth $438,000 after purchasing an additional 209 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

Planet Fitness stock opened at $109.06 on Friday. Planet Fitness, Inc. has a 12 month low of $87.72 and a 12 month high of $114.47. The company has a fifty day moving average price of $104.58 and a two-hundred day moving average price of $104.77. The company has a market cap of $9.08 billion, a PE ratio of 44.52, a P/E/G ratio of 2.45 and a beta of 1.28.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 6th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $330.35 million for the quarter, compared to analysts’ expectations of $323.95 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s 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. Equities research analysts anticipate that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLNT. Royal Bank Of Canada reiterated an “outperform” rating and set a $135.00 target price on shares of Planet Fitness in a research note on Tuesday, December 9th. JPMorgan Chase & Co. upped their price target on shares of Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Canaccord Genuity Group raised their price objective on shares of Planet Fitness from $130.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Guggenheim raised shares of Planet Fitness to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Macquarie upped their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.92.

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.