Goldman Sachs Group Inc. trimmed its stake in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) by 30.4% during the fourth quarter, Holdings Channel reports. The firm owned 1,163,964 shares of the company’s stock after selling 507,820 shares during the period. Goldman Sachs Group Inc.’s holdings in Planet Fitness were worth $126,255,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in shares of Planet Fitness in the 4th quarter worth approximately $27,000. Clearstead Advisors LLC boosted its stake in Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 193 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after buying an additional 214 shares in the last quarter. Hantz Financial Services Inc. grew its position in Planet Fitness by 51.9% in the third quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock valued at $42,000 after acquiring an additional 138 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new stake in Planet Fitness in the third quarter valued at $44,000. 95.53% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Piper Sandler cut Planet Fitness from an “overweight” rating to a “neutral” rating in a report on Friday, February 27th. UBS Group lowered their target price on shares of Planet Fitness from $120.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Weiss Ratings cut shares of Planet Fitness from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Bank of America reissued a “neutral” rating and set a $59.00 price target (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. Finally, Zacks Research lowered shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $77.81.
Planet Fitness Stock Up 0.2%
Shares of NYSE PLNT opened at $50.77 on Tuesday. The firm’s 50-day simple moving average is $61.66 and its 200 day simple moving average is $83.91. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.10 and a beta of 1.04. Planet Fitness, Inc. has a 12-month low of $37.03 and a 12-month high of $114.47.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The firm had revenue of $337.24 million during the quarter, compared to analysts’ expectations of $298.60 million. During the same quarter last year, the company posted $0.59 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, equities analysts expect that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.
Insider Activity at Planet Fitness
In related news, Director Frances G. Rathke purchased 5,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was acquired at an average price of $46.21 per share, with a total value of $231,050.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $231,050. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.
Planet Fitness Company Profile
Planet Fitness, Inc is a franchisor and operator of fitness centers based in Hampton, New Hampshire. Established in 1992, the company designs and equips its clubs to offer a non-intimidating workout environment, often marketed under its “Judgment Free Zone” philosophy. Planet Fitness markets affordable membership plans and a variety of cardio and strength-training equipment, positioning itself to attract casual and first-time gym users.
The company operates through a network of franchised and company-owned clubs.
Read More
- Five stocks we like better than Planet Fitness
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding PLNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Planet Fitness, Inc. (NYSE:PLNT – Free Report).
Receive News & Ratings for Planet Fitness Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Fitness and related companies with MarketBeat.com's FREE daily email newsletter.
