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Fintel reports that on August 8, 2023, TD Cowen maintained coverage of Planet Fitness Inc – (NYSE:PLNT) with a Outperform recommendation.

Analyst Price Forecast Suggests 41.09% Upside

As of August 2, 2023, the average one-year price target for Planet Fitness Inc – is 87.21. The forecasts range from a low of 57.57 to a high of $105.00. The average price target represents an increase of 41.09% from its latest reported closing price of 61.81.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Planet Fitness Inc – is 1,090MM, an increase of 19.60%. The projected annual non-GAAP EPS is 2.12.

What is the Fund Sentiment?

There are 745 funds or institutions reporting positions in Planet Fitness Inc -. This is an increase of 37 owner(s) or 5.23% in the last quarter. Average portfolio weight of all funds dedicated to PLNT is 0.38%, a decrease of 6.87%. Total shares owned by institutions decreased in the last three months by 2.77% to 106,761K shares. PLNT / Planet Fitness Inc - Class A Put/Call Ratios The put/call ratio of PLNT is 0.67, indicating a bullish outlook.

What are Other Shareholders Doing?

PLNT / Planet Fitness Inc - Class A Shares Held by Institutions

SRS Investment Management holds 6,957K shares representing 8.28% ownership of the company. No change in the last quarter.

CMGIX – Blackrock Mid Cap Growth Equity Portfolio Institutional holds 3,086K shares representing 3.67% ownership of the company. No change in the last quarter.

Amundi holds 2,750K shares representing 3.27% ownership of the company. In it’s prior filing, the firm reported owning 2,521K shares, representing an increase of 8.33%. The firm decreased its portfolio allocation in PLNT by 93.88% over the last quarter.

Bank of New York Mellon holds 2,648K shares representing 3.15% ownership of the company. In it’s prior filing, the firm reported owning 2,124K shares, representing an increase of 19.79%. The firm decreased its portfolio allocation in PLNT by 88.59% over the last quarter.

Jpmorgan Chase holds 2,625K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 2,720K shares, representing a decrease of 3.65%. The firm decreased its portfolio allocation in PLNT by 88.97% 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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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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