Insider Buying: Planet Fitness (NYSE:PLNT) Director Purchases $231,050.00 in Stock

Planet Fitness, Inc. (NYSE:PLNT) Director Frances Rathke acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $231,050. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Planet Fitness Stock Up 2.1%

Shares of PLNT opened at $50.54 on Thursday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.08 and a beta of 1.12. Planet Fitness, Inc. has a twelve month low of $37.03 and a twelve month high of $114.47. The company has a 50 day moving average of $70.52 and a two-hundred day moving average of $89.84.

Planet Fitness (NYSE:PLNT) last announced its earnings results 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. The company had revenue of $337.24 million during the quarter, compared to the consensus estimate of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. Planet Fitness’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, sell-side analysts expect that Planet Fitness, Inc. will post 3.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PLNT shares. JPMorgan Chase & Co. decreased their price target on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada reduced their target price on shares of Planet Fitness from $85.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Stifel Nicolaus reduced their target price on shares of Planet Fitness from $105.00 to $90.00 and set a “buy” rating for the company in a report on Friday, April 24th. TD Cowen cut shares of Planet Fitness from a “buy” rating to a “hold” rating and cut their price objective for the company from $90.00 to $50.00 in a report on Friday, May 8th. Finally, Zacks Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Planet Fitness currently has an average rating of “Moderate Buy” and a consensus price target of $81.32.

Institutional Trading of Planet Fitness

Several institutional investors have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its position in Planet Fitness by 1.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock worth $1,001,848,000 after acquiring an additional 149,503 shares during the last quarter. SRS Investment Management LLC boosted its holdings in Planet Fitness by 4.5% in the 4th quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock valued at $529,071,000 after purchasing an additional 212,145 shares during the last quarter. Steadfast Capital Management LP boosted its holdings in Planet Fitness by 4.6% in the 3rd quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock valued at $196,077,000 after purchasing an additional 83,215 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Planet Fitness by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,658,435 shares of the company’s stock valued at $179,924,000 after purchasing an additional 26,575 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Planet Fitness by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,389,098 shares of the company’s stock valued at $134,201,000 after purchasing an additional 24,981 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Planet Fitness

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.