Planet Fitness, Inc. $PLNT Shares Purchased by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its holdings in Planet Fitness by 13.2%, acquiring an additional 18,010 shares during the second quarter.
• Planet Fitness reported earnings of $0.86 per share, surpassing analysts' estimates of $0.79, with quarterly revenue of $340.88 million, a 13.3% increase compared to the previous year.
• Institutional investors and hedge funds collectively own 95.53% of Planet Fitness's stock, with several analysts maintaining a "buy" rating and an average price target of $112.50.

Allspring Global Investments Holdings LLC increased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT - Free Report) by 13.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,945 shares of the company's stock after purchasing an additional 18,010 shares during the period. Allspring Global Investments Holdings LLC owned 0.18% of Planet Fitness worth $16,508,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of Planet Fitness by 6.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 8,407,128 shares of the company's stock worth $812,213,000 after acquiring an additional 496,047 shares during the period. Vanguard Group Inc. lifted its stake in shares of Planet Fitness by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 8,098,481 shares of the company's stock worth $782,394,000 after acquiring an additional 62,716 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Planet Fitness by 62.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,289,606 shares of the company's stock worth $317,810,000 after acquiring an additional 1,268,262 shares during the period. Ninety One UK Ltd lifted its stake in shares of Planet Fitness by 35.7% in the 2nd quarter. Ninety One UK Ltd now owns 2,883,906 shares of the company's stock worth $314,490,000 after acquiring an additional 759,227 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Planet Fitness by 358.0% in the 1st quarter. Invesco Ltd. now owns 2,211,139 shares of the company's stock worth $213,618,000 after acquiring an additional 1,728,407 shares during the period. Institutional investors and hedge funds own 95.53% of the company's stock.

Planet Fitness Trading Up 1.7%

NYSE:PLNT opened at $94.20 on Friday. The company has a market capitalization of $7.93 billion, a P/E ratio of 41.87, a price-to-earnings-growth ratio of 2.06 and a beta of 1.38. The firm has a 50-day moving average price of $102.00 and a two-hundred day moving average price of $102.59. Planet Fitness, Inc. has a twelve month low of $77.77 and a twelve month high of $114.47.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on PLNT shares. Raymond James Financial restated a "strong-buy" rating on shares of Planet Fitness in a research note on Thursday, August 7th. UBS Group started coverage on shares of Planet Fitness in a research note on Friday. They issued a "buy" rating and a $125.00 price objective for the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $126.00 price objective on shares of Planet Fitness in a research note on Monday, September 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Planet Fitness in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Planet Fitness in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $112.50.

Planet Fitness Company Profile

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.

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