Planet Fitness, Inc. $PLNT Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab cut its stake in Planet Fitness, Inc. (NYSE:PLNT) by 63.9% in the 1st quarter, HoldingsChannel reports. The fund owned 51,578 shares of the company’s stock after selling 91,186 shares during the period. Danica Pension Livsforsikringsaktieselskab’s holdings in Planet Fitness were worth $3,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. T. Rowe Price Investment Management Inc. raised its holdings 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 purchasing an additional 149,503 shares in the last quarter. SRS Investment Management LLC lifted its position in Planet Fitness by 4.5% in the fourth 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 during the period. Steadfast Capital Management LP boosted its stake in Planet Fitness by 4.6% during 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 in the last quarter. Geode Capital Management LLC boosted its stake in Planet Fitness by 1.6% during 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Planet Fitness by 1.8% during 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 period. Institutional investors and hedge funds own 95.53% of the company’s stock.

More Planet Fitness News

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group reissued a “buy” rating on shares of Planet Fitness in a research note on Monday. Stifel Nicolaus decreased their target price on Planet Fitness from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Bank of America reaffirmed a “neutral” rating and set a $59.00 target price (down from $110.00) on shares of Planet Fitness in a report on Friday, May 8th. Weiss Ratings lowered Planet Fitness from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 18th. Finally, Robert W. Baird set a $80.00 price target on shares of Planet Fitness in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.50.

Insider Buying and Selling at Planet Fitness

In related news, Director Frances G. Rathke bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were acquired at an average cost of $46.21 per share, for a total transaction of $231,050.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.

Planet Fitness Stock Performance

Shares of NYSE:PLNT opened at $53.99 on Thursday. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.20 and a beta of 1.04. Planet Fitness, Inc. has a 1-year low of $37.03 and a 1-year high of $114.47. The company has a 50 day moving average price of $52.07 and a 200 day moving average price of $70.99.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. The company had revenue of $337.24 million for the quarter, compared to analysts’ expectations of $298.60 million. Planet Fitness had a negative return on equity of 81.29% and a net margin of 16.52%.The firm’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company 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 fiscal year.

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.