Putnam Investments LLC Has $16.89 Million Position in Planet Fitness, Inc. (NYSE:PLNT)

Posted by Defense World Staff on Sep 15th, 2023

Putnam Investments LLC lifted its holdings in Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 217,395 shares of the company’s stock after purchasing an additional 2,879 shares during the quarter. Putnam Investments LLC owned about 0.24% of Planet Fitness worth $16,885,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in Planet Fitness by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,332 shares of the company’s stock worth $112,000 after buying an additional 157 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Planet Fitness by 801.5% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,839 shares of the company’s stock worth $155,000 after buying an additional 1,635 shares during the period. MetLife Investment Management LLC acquired a new stake in Planet Fitness during the 1st quarter worth approximately $357,000. BlackRock Inc. raised its holdings in Planet Fitness by 34.8% during the 1st quarter. BlackRock Inc. now owns 7,184,140 shares of the company’s stock worth $606,915,000 after buying an additional 1,852,867 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in Planet Fitness during the 1st quarter worth approximately $919,000. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

PLNT stock opened at $59.80 on Friday. The company has a fifty day moving average price of $63.16 and a two-hundred day moving average price of $69.56. Planet Fitness, Inc. has a one year low of $54.15 and a one year high of $85.90. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 40.68, a price-to-earnings-growth ratio of 0.92 and a beta of 1.30.

Planet Fitness (NYSE:PLNT – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. Planet Fitness had a net margin of 12.03% and a negative return on equity of 86.09%. The firm had revenue of $286.50 million during the quarter, compared to analysts’ expectations of $251.99 million. During the same period in the previous year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 27.7% compared to the same quarter last year. Research analysts anticipate that Planet Fitness, Inc. will post 2.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on PLNT. Macquarie dropped their target price on shares of Planet Fitness from $85.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, August 30th. TD Cowen lowered their price objective on shares of Planet Fitness from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, August 8th. Piper Sandler lowered their price objective on shares of Planet Fitness from $96.00 to $88.00 in a report on Thursday, June 22nd. Royal Bank of Canada lowered their price objective on shares of Planet Fitness from $86.00 to $78.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. Finally, Bank of America lowered their price objective on shares of Planet Fitness from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Check Out Our Latest Research Report on Planet Fitness

Planet Fitness Profile

(Free Report)

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 Franchise segment is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.