Y Intercept Hong Kong Ltd Buys Shares of 37,433 Planet Fitness, Inc. $PLNT

Y Intercept Hong Kong Ltd purchased a new position in Planet Fitness, Inc. (NYSE:PLNT) in the first quarter, Holdings Channel reports. The fund purchased 37,433 shares of the company’s stock, valued at approximately $2,784,000.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Planet Fitness in the 4th quarter valued at approximately $108,796,000. Junto Capital Management LP bought a new stake in Planet Fitness during the third quarter worth approximately $73,603,000. Freestone Grove Partners LP boosted its position in Planet Fitness by 149.2% during the third 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 during the period. CIBC Bancorp USA Inc. acquired a new position in Planet Fitness during the third quarter valued at approximately $28,515,000. Finally, SRS Investment Management LLC grew its holdings in Planet Fitness by 4.5% during the fourth 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. Institutional investors own 95.53% of the company’s stock.

Insider Activity at Planet Fitness

In other news, Director Frances G. Rathke acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were bought at an average price of $46.21 per share, with a total value of $231,050.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $231,050. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on PLNT shares. KeyCorp reduced their price objective on shares of Planet Fitness from $100.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. UBS Group dropped their target price on shares of Planet Fitness from $120.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Jefferies Financial Group set a $133.00 target price on shares of Planet Fitness in a research report on Thursday, May 7th. Roth Capital decreased their price target on shares of Planet Fitness from $109.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Planet Fitness from $98.00 to $61.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $77.81.

Planet Fitness Price Performance

NYSE PLNT opened at $52.27 on Wednesday. The company’s fifty day moving average is $53.06 and its two-hundred day moving average is $75.44. Planet Fitness, Inc. has a 52-week low of $37.03 and a 52-week high of $114.47. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.14 and a beta of 1.04.

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