Credit Agricole S A Buys Shares of 16,433 Planet Fitness, Inc. $PLNT

Key Points

• Credit Agricole S A has acquired a new stake in Planet Fitness, purchasing 16,433 shares valued at approximately $1,588,000 during the first quarter of 2023.
• Institutional investors collectively own 95.53% of Planet Fitness, with significant increases in stakes reported by firms like Brooklyn Investment Group and PNC Financial Services Group.
• Analysts have a consensus rating of "Moderate Buy" for Planet Fitness, with a target price averaging $107.38, reflecting positive expectations for the company's performance.

Credit Agricole S A acquired a new position in Planet Fitness, Inc. (NYSE:PLNT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,433 shares of the company's stock, valued at approximately $1,588,000.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group raised its holdings in Planet Fitness by 57.8% during the 1st quarter. Brooklyn Investment Group now owns 322 shares of the company's stock valued at $31,000 after buying an additional 118 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Planet Fitness by 187.6% during the 1st quarter. First Horizon Advisors Inc. now owns 371 shares of the company's stock valued at $36,000 after buying an additional 242 shares during the last quarter. CoreCap Advisors LLC raised its holdings in Planet Fitness by 1,250.0% during the 4th quarter. CoreCap Advisors LLC now owns 486 shares of the company's stock valued at $48,000 after buying an additional 450 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Planet Fitness by 291.0% during the 1st quarter. Farther Finance Advisors LLC now owns 520 shares of the company's stock valued at $50,000 after buying an additional 387 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Planet Fitness during the 4th quarter valued at $57,000. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Raymond James Financial reiterated a "strong-buy" rating on shares of Planet Fitness in a report on Thursday, August 7th. Macquarie reiterated a "neutral" rating and set a $95.00 price target on shares of Planet Fitness in a report on Tuesday, May 13th. Stifel Nicolaus set a $120.00 price target on shares of Planet Fitness and gave the company a "buy" rating in a report on Thursday, May 22nd. Canaccord Genuity Group set a $126.00 price objective on shares of Planet Fitness and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Guggenheim reaffirmed a "buy" rating and set a $110.00 target price on shares of Planet Fitness in a research note on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Planet Fitness presently has an average rating of "Moderate Buy" and an average price target of $107.38.

Planet Fitness Stock Down 1.4%

Shares of NYSE:PLNT traded down $1.45 during midday trading on Friday, reaching $105.35. The company's stock had a trading volume of 380,072 shares, compared to its average volume of 1,484,645. The firm has a 50 day moving average of $108.31 and a 200-day moving average of $101.89. The firm has a market capitalization of $8.87 billion, a P/E ratio of 46.80, a PEG ratio of 2.35 and a beta of 1.40. Planet Fitness, Inc. has a 12-month low of $77.77 and a 12-month high of $114.47.

Planet Fitness (NYSE:PLNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. Planet Fitness had a net margin of 15.11% and a negative return on equity of 110.18%. The company had revenue of $340.88 million for the quarter, compared to the consensus estimate of $329.59 million. During the same period in the prior year, the firm posted $0.71 EPS. Planet Fitness's revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts predict that Planet Fitness, Inc. will post 2.51 EPS 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.