24,100 Shares in Planet Fitness, Inc. $PLNT Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 24,100 shares of the company’s stock, valued at approximately $1,793,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Planet Fitness in the fourth quarter valued at about $108,796,000. Junto Capital Management LP bought a new position in shares of Planet Fitness during the third quarter worth about $73,603,000. Freestone Grove Partners LP raised its position in Planet Fitness by 149.2% in the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock valued at $54,768,000 after buying an additional 315,941 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Planet Fitness in the 3rd quarter valued at approximately $28,515,000. Finally, SRS Investment Management LLC lifted its stake 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 acquiring an additional 212,145 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Planet Fitness Stock Up 1.3%

NYSE:PLNT opened at $52.27 on Wednesday. Planet Fitness, Inc. has a twelve month low of $37.03 and a twelve month high of $114.47. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 1.12 and a beta of 1.04. The stock’s 50 day moving average price is $54.89 and its two-hundred day moving average price is $77.42.

Planet Fitness (NYSE:PLNT) last released 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 business had revenue of $337.24 million during the quarter, compared to analysts’ expectations of $298.60 million. Planet Fitness had a net margin of 16.52% and a negative return on equity of 81.29%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same period last year, the business earned $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. As a group, analysts anticipate that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PLNT shares. KeyCorp reduced their price target on Planet Fitness from $100.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Canaccord Genuity Group set a $80.00 price objective on shares of Planet Fitness 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 report on Friday, May 8th. Stifel Nicolaus lowered their price target on shares of Planet Fitness from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Finally, Wells Fargo & Company cut their price target on shares of Planet Fitness from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.81.

Insider Buying and Selling

In other news, Director Frances G. Rathke purchased 5,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was purchased 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 directly owned 5,000 shares in the company, valued at $231,050. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Planet Fitness 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.