Fintel reports that on September 27, 2024, Deutsche Bank initiated coverage of Planet Fitness (NYSE:PLNT) with a Hold recommendation.
Analyst Price Forecast Suggests 13.35% Upside
As of September 24, 2024, the average one-year price target for Planet Fitness is $91.23/share. The forecasts range from a low of $70.70 to a high of $105.00. The average price target represents an increase of 13.35% from its latest reported closing price of $80.48 / share.
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The projected annual revenue for Planet Fitness is 1,223MM, an increase of 18.00%. The projected annual non-GAAP EPS is 2.62.
What is the Fund Sentiment?
There are 720 funds or institutions reporting positions in Planet Fitness. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to PLNT is 0.27%, an increase of 9.49%. Total shares owned by institutions decreased in the last three months by 1.19% to 109,054K shares. 
The put/call ratio of PLNT is 1.35, indicating a bearish outlook.
What are Other Shareholders Doing?
SRS Investment Management holds 6,112K shares representing 7.23% ownership of the company. No change in the last quarter.
Amundi holds 4,215K shares representing 4.98% ownership of the company. In its prior filing, the firm reported owning 4,565K shares , representing a decrease of 8.31%. The firm decreased its portfolio allocation in PLNT by 94.67% over the last quarter.
Champlain Investment Partners holds 3,524K shares representing 4.17% ownership of the company. In its prior filing, the firm reported owning 3,434K shares , representing an increase of 2.54%. The firm increased its portfolio allocation in PLNT by 29.09% over the last quarter.
Dorsal Capital Management holds 2,907K shares representing 3.44% ownership of the company. In its prior filing, the firm reported owning 2,700K shares , representing an increase of 7.13%. The firm increased its portfolio allocation in PLNT by 33.41% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,798K shares representing 3.31% ownership of the company. In its prior filing, the firm reported owning 2,701K shares , representing an increase of 3.48%. The firm increased its portfolio allocation in PLNT by 18.38% over the last quarter.
Planet Fitness Background Information
(This description is provided by the company.)
Founded in 1992 in Dover, NH, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. As of September 30, 2020, Planet Fitness had more than 14.1 million members and 2,086 stores in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia. The Company's mission is to enhance people's lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. More than 95% of Planet Fitness stores are owned and operated by independent business men and women.
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