Peregrine Capital Management LLC Has $38.40 Million Stock Holdings in Planet Fitness, Inc. $PLNT

Peregrine Capital Management LLC trimmed its holdings in Planet Fitness, Inc. (NYSE:PLNT) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 369,914 shares of the company’s stock after selling 7,674 shares during the quarter. Planet Fitness makes up about 1.2% of Peregrine Capital Management LLC’s holdings, making the stock its 17th largest position. Peregrine Capital Management LLC’s holdings in Planet Fitness were worth $38,397,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ABN AMRO Bank N.V. purchased a new position in Planet Fitness during the second quarter worth about $13,214,000. Inceptionr LLC purchased a new position in shares of Planet Fitness in the 2nd quarter worth approximately $356,000. Advantage Alpha Capital Partners LP bought a new position in shares of Planet Fitness in the second quarter valued at approximately $2,633,000. Y Intercept Hong Kong Ltd bought a new position in shares of Planet Fitness in the second quarter valued at approximately $883,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Planet Fitness during the second quarter valued at approximately $970,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $105.72 on Friday. The stock has a market capitalization of $8.81 billion, a P/E ratio of 43.15, a P/E/G ratio of 2.00 and a beta of 1.27. Planet Fitness, Inc. has a 52-week low of $87.72 and a 52-week high of $114.47. The stock’s 50-day simple moving average is $106.82 and its 200 day simple moving average is $104.95.

Planet Fitness (NYSE:PLNT) last posted its 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 net margin of 15.97% and a negative return on equity of 126.58%. The firm had revenue of $330.35 million during the quarter, compared to the consensus estimate of $323.95 million. During the same quarter last year, the company earned $0.64 earnings per share. The company’s 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. Equities research analysts forecast that Planet Fitness, Inc. will post 2.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Planet Fitness in a research report on Wednesday, September 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a research report on Monday, December 29th. UBS Group began coverage on shares of Planet Fitness in a research report on Friday, October 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Guggenheim upgraded shares of Planet Fitness to a “strong-buy” rating in a research note on Wednesday, December 10th. Finally, Macquarie increased their target price on shares of Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.67.

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.