Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,406 shares of the company’s stock, valued at approximately $397,000.
Several other hedge funds have also recently added to or reduced their stakes in PLNT. Allworth Financial LP increased its holdings in shares of Planet Fitness by 15.5% in the second quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock valued at $89,000 after buying an additional 228 shares in the last quarter. Fulton Bank N.A. boosted its stake in shares of Planet Fitness by 3.9% during the 2nd quarter. Fulton Bank N.A. now owns 6,956 shares of the company’s stock worth $363,000 after acquiring an additional 262 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Planet Fitness by 2.5% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,663 shares of the company’s stock worth $577,000 after acquiring an additional 330 shares in the last quarter. KBC Group NV boosted its stake in shares of Planet Fitness by 15.7% during the 1st quarter. KBC Group NV now owns 2,560 shares of the company’s stock worth $190,000 after acquiring an additional 348 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Planet Fitness by 285.9% in the 2nd quarter. Versant Capital Management Inc now owns 494 shares of the company’s stock worth $26,000 after acquiring an additional 366 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.
Wall Street Analyst Weigh In
PLNT has been the topic of a number of recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $72.00 target price on shares of Planet Fitness in a research report on Thursday. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a research report on Friday, October 9th. Jefferies Financial Group set a $106.00 price target on Planet Fitness in a research report on Thursday, August 6th. Wells Fargo & Company lifted their price target on Planet Fitness from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Canaccord Genuity Group boosted their price objective on Planet Fitness from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Planet Fitness has an average rating of “Moderate Buy” and a consensus target price of $71.29.
View Our Latest Stock Analysis on PLNT
Insiders Place Their Bets
In other Planet Fitness news, Director Christopher Tanco bought 2,328 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was acquired at an average price of $51.23 per share, with a total value of $119,263.44. Following the completion of the transaction, the director directly owned 2,328 shares in the company, valued at approximately $119,263.44. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William Bode sold 7,000 shares of Planet Fitness stock in a transaction on Monday, September 14th. The shares were sold at an average price of $51.22, for a total value of $358,540.00. Following the transaction, the chief operating officer owned 32,939 shares in the company, valued at $1,687,135.58. This represents a 17.53% decrease in their position. The SEC filing for this sale provides additional information. 0.90% of the stock is owned by corporate insiders.
Planet Fitness Stock Performance
Shares of NYSE:PLNT opened at $60.34 on Monday. The firm has a 50 day simple moving average of $49.22 and a 200 day simple moving average of $61.34. Planet Fitness, Inc. has a 52 week low of $37.03 and a 52 week high of $114.26. The company has a market cap of $4.56 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02.
Planet Fitness (NYSE:PLNT – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.02. Planet Fitness had a net margin of 16.06% and a negative return on equity of 47.24%. The firm had revenue of $359.98 million for the quarter, compared to analysts’ expectations of $348.34 million. During the same period in the previous year, the company posted $0.80 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts predict that Planet Fitness, Inc. will post 3.26 earnings per share for the current year.
Planet Fitness News Roundup
Here are the key news stories impacting Planet Fitness this week:
- Positive Sentiment: Third-quarter revenue rose 9% year over year to about $360 million, topping estimates of $348 million, while earnings of $0.83 per share also beat expectations. The company raised its 2026 forecast, adding to the upbeat results. Planet Fitness third-quarter results
- Positive Sentiment: Planet Fitness authorized a new $500 million share repurchase program and said it repurchased and retired $50 million of stock in the quarter. Buybacks can support per-share earnings and shareholder returns. Share repurchase announcement
- Positive Sentiment: Wells Fargo raised its price target to $75 from $65 and kept an overweight rating; RBC lifted its target to $70 from $60 with an outperform rating; and KeyCorp raised its target to $68 from $65 while maintaining overweight. The revisions signal improved analyst confidence. Wells Fargo analyst ratings
- Positive Sentiment: Management plans regional Black Card price increases beginning in the second quarter of 2027, which could support future revenue, and announced entry into Portugal through the acquisition of Be-Fit. Long-term investor takeaways
- Neutral Sentiment: System-wide same-club sales increased 1.5%. Management is also reviewing its domestic company-owned clubs and plans to sell a portion; the outcome and effects of that strategic move remain uncertain. Planet Fitness third-quarter results
About Planet Fitness
Planet Fitness, Inc is a fitness club franchisor and operator known for its low-cost membership model and “Judgement Free Zone” approach. Its clubs offer cardio and strength-training equipment, along with access to fitness training and other member services.
Founded in 1992, the company began franchising its clubs in 2003. Planet Fitness serves members primarily in the United States, as well as in several international markets, including Canada, Mexico and Australia.
Planet Fitness is headquartered in Hampton, New Hampshire.
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