Norges Bank Purchases Shares of 1,003,001 Planet Fitness, Inc. $PLNT

Norges Bank purchased a new stake in shares of Planet Fitness, Inc. (NYSE:PLNT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,003,001 shares of the company’s stock, valued at approximately $108,796,000. Norges Bank owned 1.20% of Planet Fitness as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Planet Fitness in the 4th quarter worth about $27,000. Clearstead Advisors LLC lifted its position in shares of Planet Fitness by 135.9% in the 4th quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 193 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Planet Fitness by 184.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock worth $36,000 after purchasing an additional 214 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Planet Fitness by 51.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 404 shares of the company’s stock worth $42,000 after purchasing an additional 138 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Planet Fitness in the 3rd quarter worth about $44,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Planet Fitness news, Director Frances G. Rathke purchased 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 purchase, the director directly owned 5,000 shares of the company’s stock, valued at $231,050. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Planet Fitness Stock Performance

NYSE:PLNT opened at $51.26 on Friday. The firm has a market cap of $4.07 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.12 and a beta of 1.04. Planet Fitness, Inc. has a fifty-two week low of $37.03 and a fifty-two week high of $114.47. The firm has a 50-day simple moving average of $62.65 and a two-hundred day simple moving average of $84.65.

Planet Fitness (NYSE:PLNT) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $298.60 million. During the same period in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, equities research analysts predict that Planet Fitness, Inc. will post 3.18 EPS for the current year.

Wall Street Analyst Weigh In

PLNT has been the subject of several research analyst reports. Bank of America reaffirmed a “neutral” rating and issued a $59.00 target price (down from $110.00) on shares of Planet Fitness in a research report on Friday, May 8th. William Blair cut shares of Planet Fitness from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Wells Fargo & Company dropped their target price on shares of Planet Fitness from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Morgan Stanley cut shares of Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 target price for the company. in a research report on Friday, May 8th. Finally, Zacks Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.81.

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.