Planet Fitness, Inc. $PLNT Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,479 shares of the company’s stock after buying an additional 7,167 shares during the period. Nordea Investment Management AB’s holdings in Planet Fitness were worth $19,779,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Game Plan Financial Advisors LLC acquired a new position in Planet Fitness during the 2nd quarter worth approximately $25,000. Hantz Financial Services Inc. raised its stake in shares of Planet Fitness by 964.0% during the second quarter. Hantz Financial Services Inc. now owns 266 shares of the company’s stock valued at $29,000 after purchasing an additional 241 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Planet Fitness by 184.5% during the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in shares of Planet Fitness by 6,950.0% during the third quarter. SJS Investment Consulting Inc. now owns 423 shares of the company’s stock worth $44,000 after purchasing an additional 417 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Planet Fitness in the second quarter valued at $53,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Planet Fitness Stock Down 1.7%

Shares of Planet Fitness stock opened at $99.00 on Friday. The business has a 50-day moving average price of $107.56 and a 200 day moving average price of $104.72. Planet Fitness, Inc. has a fifty-two week low of $87.72 and a fifty-two week high of $114.47. The firm has a market cap of $8.25 billion, a P/E ratio of 40.41, a P/E/G ratio of 1.92 and a beta of 1.27.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Thursday, November 6th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The company had revenue of $330.35 million during the quarter, compared to analyst estimates of $323.95 million. Planet Fitness had a negative return on equity of 126.58% and a net margin of 15.97%.The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Planet Fitness has set its FY 2025 guidance at 3.000-3.030 EPS. As a group, 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 equities research analysts recently issued reports on PLNT shares. Stifel Nicolaus lifted their price target on shares of Planet Fitness from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. UBS Group reaffirmed a “buy” rating on shares of Planet Fitness in a research report on Friday, January 9th. JPMorgan Chase & Co. increased their price target on Planet Fitness from $108.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Macquarie raised their price objective on Planet Fitness from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, November 11th. Finally, William Blair reaffirmed an “outperform” rating on shares of Planet Fitness in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $119.67.

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.