Investment management company Prelude Capital Management LLC recently made a significant acquisition with the purchase of new shares in Planet Fitness, Inc. (NYSE: PLNT). The transaction took place in the first quarter of this year and was disclosed in the company’s most recent Form 13F filing with the Securities and Exchange Commission. As a result of this acquisition, Prelude Capital Management now owns 4,864 shares of Planet Fitness stock, valued at approximately $378,000.
Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the well-known Planet Fitness brand. The company operates through his three main segments: franchises, corporate-owned stores, and facilities. The Franchise Division focuses on expanding its business through franchising operations in various regions, including the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.
Planet Fitness has established itself as a prominent player in the fitness industry by providing its customers with an affordable and inviting exercise facility. With a mission to provide a non-intimidating environment that promotes physical health for all ages and fitness levels, Planet Fitness strives to make exercise accessible to everyone.
The main purpose of the franchise division is to license franchisees to operate their own Planet Fitness centers according to strict guidelines set by the company. Planet Fitness provides comprehensive support services, including training programs for staff members and marketing assistance, ensuring franchisees receive the ongoing guidance they need to succeed.
Planet Fitness, on the other hand, directly operates wholly owned fitness centers through its corporate store business. This allows the company to directly manage these locations while gaining valuable insights into consumer preferences that can help improve overall operations.
Additionally, Planet Fitness operates within the Equipment segment, selling branded fitness equipment to existing franchisees or third-party purchasers. By providing high-quality equipment that is specifically tailored to meet the rigorous quality standards that Planet Fitness itself enforces, the company ensures that its franchisees have access to reliable and efficient exercise equipment. I am.
Planet Fitness’ commitment to providing a superior fitness experience has earned us praise from customers around the world. The company’s unique approach, which focuses on eliminating intimidation and building supportive communities, attracts a diverse group of individuals seeking to improve their overall health and well-being.
With Prelude Capital Management’s recent acquisition, it’s clear that the investment firm sees potential in Planet Fitness’ business model and growth prospects. As an industry leader in the fitness sector, Planet Fitness continues to expand its footprint domestically and internationally, providing investors with sustainable income opportunities.
Investors and industry observers will no doubt be keeping an eye on Planet Fitness as it navigates the evolving landscape of the fitness industry. With strong brand recognition, a commitment to customer satisfaction, and innovative strategies, Planet Fitness is well-positioned for continued success in providing accessible fitness options to individuals around the world.
Major investors increase their holdings in Planet Fitness as financial analysts tout positive growth outlook
September 18, 2023 – Planet Fitness (NYSE:PLNT), a leading fitness company, recently witnessed several major investors make significant changes to their positions within the company. Notable among them is BlackRock Inc., where he increased his stake in Planet Fitness by an astonishing 34.8% in the first quarter of this year. The company currently owns a total of 7,184,140 shares of Planet Fitness, Inc., valued at $606,915,000. This significant increase in ownership comes after he purchased an additional 1,852,867 shares in the last quarter.
Amundi, another big investor, increased its stake in Planet Fitness by 12.9% in the fourth quarter of last year. Amundi currently owns 2,520,924 shares valued at $212,257,000, after acquiring an additional 288,762 shares during the period.
Meanwhile, Eagle Asset Management Inc. modestly increased its holdings in Planet Fitness shares by 8.1% in the first quarter of this year. The company now owns 2,182,052 shares worth $169,479,000 after purchasing an additional 164,178 shares.
Additionally, Bank of New York Mellon Corporation increased its stake in Planet Fitness, Inc. by 7.3% in the 1st quarter. The institution, which currently owns 2,123,775 shares worth $164,954,000, added to its portfolio by acquiring an additional 143,871 shares during the period.
Finally, Bears Capital Management, a well-known asset management company, increased its shareholding in Planet Fitness, Inc. by approximately 2.4%, bringing the total number of par value shares to 2,063,152 shares, with a value of $162,576,000 . The company achieved this significant increase by sourcing more 48
,955 shares
Institutional investors currently own a staggering 95.53% of the company’s stock, highlighting the significance of these recent position changes.
Financial analysts are also weighing Planet Fitness’ prospects. For example, Piper Sandler adjusted its price target from $96.00 to $88.00 in a report released on June 22nd. Similarly, Da Davidson lowered its price target from $67.00 to $66.00 and maintained the company’s rating at “Neutral,” according to market observations conducted on August 4. This coincides with Bank of America lowering its price target from $95.00 to $80 during this thorough investigation. Analysts at Robert W. Baird also lowered their target on PLNT stock from $95.00 to $87.00. In line with other researchers, Stifel-Nikolaus reflected his optimism to continue to “buy” the stock within the same period. Prices range from 78 to 82.
Planet Fitness currently holds a Moderate Buy rating among the majority of analysts covering the stock, according to the average consensus rating, sourced from Bloomberg.com. A positive recommendation is made to potential investors. Additionally, the company’s average price target is around &79.87.
At the start of trading on Monday, PLNT was valued at $50.29. As reported, the fitness giant hit a 52-week low of $49,91 and high of $85,90. It currently has a market capitalization of $4.43 billion, a price-to-earnings ratio (P/E) of 34.21, and a price-to-earnings ratio (P/E/G) of 0.92. Also, the company has a beta value of 1.
30.Other important aspects include the 50-day moving average of 62.83 and the 200-day moving average of position 69.
20
Planet Fitness’ latest quarterly results revealed some positive news for investors. On Thursday, August 3rd, the company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. Additionally, Planet Fitness showed him an excellent return on equity of 86.09% and a net profit margin of 12.03%. The company’s revenue for the quarter came in at $286.5 million, compared to analysts’ expectations of $251.99 million, representing a staggering 27.7% year-over-year increase.
Considering these compelling numbers and the optimistic outlook provided by equity research analysts, Planet Fitness’s EPS growth rate for the current fiscal year is expected to be around 2.18x.
To summarize, Planet Fitness has recently seen several notable investors change their positions within the company. Specifically, BlackRock Inc., Amundi Inc., Eagle Asset Management Inc., Bank of New York Mellon Inc., and Bears Capital Management Inc. have all increased their holdings of Planet Fitness stock at various times.
Additionally, multiple industry analysts have commented on PLNT stock recently, with the average recommendation leaning towards Buy.Boasts excellent quarterly results and solid financials
