Hsbc Holdings PLC Acquires 45,172 Shares of Planet Fitness, Inc. $PLNT

Hsbc Holdings PLC boosted its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 73.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,972 shares of the company’s stock after acquiring an additional 45,172 shares during the period. Hsbc Holdings PLC’s holdings in Planet Fitness were worth $8,005,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Norges Bank purchased a new stake in Planet Fitness in the fourth quarter worth about $108,796,000. Freestone Grove Partners LP boosted its position in shares of Planet Fitness by 149.2% in the 3rd quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock worth $54,768,000 after purchasing an additional 315,941 shares in the last quarter. SRS Investment Management LLC boosted its position in shares of Planet Fitness by 4.5% in the 4th quarter. SRS Investment Management LLC now owns 4,877,578 shares of the company’s stock worth $529,071,000 after purchasing an additional 212,145 shares in the last quarter. Mane Global Capital Management LP purchased a new stake in shares of Planet Fitness in the 3rd quarter worth approximately $20,760,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Planet Fitness by 1.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,236,173 shares of the company’s stock worth $1,001,848,000 after buying an additional 149,503 shares during the last quarter. Institutional investors own 95.53% of the company’s stock.

Trending Headlines about Planet Fitness

Here are the key news stories impacting Planet Fitness this week:

• Positive Sentiment: Some market commentary argues Planet Fitness may be undervalued on cash flow and earnings, which could support a longer-term recovery if fundamentals remain intact.
• Neutral Sentiment: Several law firms have issued deadline reminders and investor alerts regarding the class action, increasing attention on the case but not adding new operational details.
• Negative Sentiment: A securities fraud class action has been filed against Planet Fitness over alleged misstatements about marketing effectiveness and membership growth, creating a legal overhang for the stock. Article Title
• Negative Sentiment: Investors are still reacting to the earlier guidance cut and the alleged failure of the company’s marketing strategy, which is being cited as the trigger for the stock’s recent weakness. Article Title

Planet Fitness Trading Down 2.0%

PLNT stock opened at $53.99 on Thursday. The stock’s 50 day simple moving average is $52.07 and its 200 day simple moving average is $70.99. Planet Fitness, Inc. has a 12-month low of $37.03 and a 12-month high of $114.47. The stock has a market capitalization of $4.29 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04.

Planet Fitness (NYSE:PLNT) last posted its 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 negative return on equity of 81.29% and a net margin of 16.52%.The business had revenue of $337.24 million during the quarter, compared to analyst estimates of $298.60 million. During the same quarter last year, the company earned $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, research analysts predict that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PLNT shares. UBS Group reiterated a “buy” rating on shares of Planet Fitness in a research note on Monday. Morgan Stanley cut Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 target price on the stock. in a research note on Friday, May 8th. KeyCorp reduced their price target on Planet Fitness from $100.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Roth Capital lowered their price target on Planet Fitness from $109.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Finally, Weiss Ratings cut shares of Planet Fitness from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, June 18th. One equities research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.50.

Insider Activity at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke acquired 5,000 shares of Planet Fitness stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $231,050. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is owned by company 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.