In the world of investments, it takes savvy tactics and a keen eye for opportunity to stay ahead of the game. And if there’s one company that has proved its worth in this regard, it’s Allspring Global Investments Holdings LLC. With their most recent disclosure with the Securities and Exchange Commission (SEC), Allspring Global Investments Holdings LLC has once again made waves in the investment world.
According to reliable sources, Allspring Global Investments Holdings LLC recently increased its holdings in Planet Fitness Inc. (NYSE: PLNT) by an impressive 16.2% during the first quarter of this year. The firm now reportedly owns 757,135 shares of the company’s stock after acquiring an additional 105,728 shares during the period.
This significant acquisition showcases Allspring Global Investments Holdings LLC’s unwavering belief in Planet Fitness’ potential as a company. In fact, Allspring Global Investments Holdings LLC now owns approximately 0.85% of Planet Fitness which is valued at $58,807,000 as indicated by its most recent SEC filing.
Looking back into history, Allspring Global Investments Holdings LLC has consistently outperformed in terms of making strategic investments in top-performing companies. With years of experience under its belt and an expert team behind them, it comes as no surprise that they have chosen to increase their holdings in Planet Fitness – a decision that could bring them substantial returns going forward.
Planet Fitness itself is widely regarded as one of the top fitness clubs in America, boasting over 14 million members worldwide. The gym chain offers affordable membership rates coupled with state-of-the-art equipment and facilities to cater to every fitness need. Their unique business model has created a powerful brand presence for themselves and has monetized customer loyalty through merchandising sales which can be seen with their logo adorned clothes worn around town.
All things considered; it seems that this strategic move by Allspring Global Investments Holdings LLC aligns perfectly with their overall investment strategy. As the world continues to change at an ever-increasing pace, strategic investments are more critical than ever before. Given Allspring Global Investments Holdings LLC’s proven track record of success, it will be interesting to see what other companies they choose to invest in going forward.
Planet Fitness, Inc.
Updated on: 27/06/2023
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|Analyst / firm||Rating|
|Cowen & Co.||Buy|
Institutional Investors and Hedge Funds Increasing Holdings in Planet Fitness, Spurring Shifts in Investment Portfolios and Analyst Opinions
Institutional investors and hedge funds are taking notice of Planet Fitness, with several firms recently buying and selling shares. Vontobel Holding Ltd., for example, increased its holdings in Planet Fitness by 32.5% during the first quarter, purchasing an additional 10,243 shares and valuing the company’s stock at $3,243,000.
Other notable investment firms getting in on the action include Rockefeller Capital Management L.P., which grew its position in PF by 93.2% during Q4 2020 through the addition of 220 shares to its portfolio; Voya Investment Management LLC, which now owns a total of 379,572 PF shares valued at $29,910,000 after increasing its position by 43.3% in Q4 as well; Truist Financial Corp., which upped its stake in PF by 25.6% last quarter through the acquisition of an additional 9,898 shares worth $3,830,000; and Steward Partners Investment Advisory LLC added a staggering 357.6% during Q4 by acquiring an additional 1,030 shares worth $104k.
All these developments have led to some interesting predictions and evaluations from research analysts like BMO Capital Markets, who recently downgraded their price target for Planet Fitness from $90 to $82 per share in a recent report. As Wall Street keeps an eye on the situation at PF and other companies in this sector we can expect to see further shifts among investment portfolios and analyst opinion as time goes on.