Voya Investment Management LLC Has $3.23 Million Holdings in Planet Fitness, Inc. $PLNT

Voya Investment Management LLC decreased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 48.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,096 shares of the company’s stock after selling 29,055 shares during the quarter. Voya Investment Management LLC’s holdings in Planet Fitness were worth $3,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PLNT. Game Plan Financial Advisors LLC bought a new stake in shares of Planet Fitness during the 2nd quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its position in Planet Fitness by 964.0% in the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after buying an additional 241 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after buying an additional 214 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Planet Fitness during the second quarter worth $53,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Planet Fitness by 48.7% during the second quarter. Farther Finance Advisors LLC now owns 773 shares of the company’s stock worth $84,000 after buying an additional 253 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PLNT shares. Canaccord Genuity Group raised their price objective on Planet Fitness from $130.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 17th. Morgan Stanley lifted their price target on Planet Fitness from $119.00 to $123.00 and gave the company an “overweight” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. boosted their price target on Planet Fitness from $108.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $135.00 price objective on shares of Planet Fitness in a report on Tuesday, December 9th. Finally, UBS Group assumed coverage on shares of Planet Fitness in a research report on Friday, October 17th. They set a “buy” rating and a $125.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $119.92.

Planet Fitness Trading Down 0.8%

Shares of PLNT stock opened at $109.06 on Friday. Planet Fitness, Inc. has a 1-year low of $87.72 and a 1-year high of $114.47. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 2.45 and a beta of 1.28. The stock has a 50-day moving average of $104.58 and a 200-day moving average of $104.77.

Planet Fitness (NYSE:PLNT) last announced its 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. The business had revenue of $330.35 million for the quarter, compared to analysts’ expectations of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. Sell-side analysts forecast that Planet Fitness, Inc. will post 2.51 earnings per share for the current year.

Planet Fitness 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.