Gotham Asset Management LLC Buys 82,053 Shares of Planet Fitness, Inc. $PLNT

Gotham Asset Management LLC boosted its stake in Planet Fitness, Inc. (NYSE:PLNT) by 23.1% in the fourth quarter, HoldingsChannel reports. The firm owned 437,862 shares of the company’s stock after acquiring an additional 82,053 shares during the period. Gotham Asset Management LLC’s holdings in Planet Fitness were worth $47,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PLNT. Goldman Sachs Group Inc. increased its holdings in Planet Fitness by 1.8% in the first 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 last quarter. Empowered Funds LLC acquired a new position in Planet Fitness in the first quarter valued at about $1,891,000. EverSource Wealth Advisors LLC grew its stake in Planet Fitness by 184.5% in the second quarter. EverSource Wealth Advisors LLC now owns 330 shares of the company’s stock valued at $36,000 after acquiring an additional 214 shares during the period. First Trust Advisors LP grew its stake in Planet Fitness by 25.8% in the second quarter. First Trust Advisors LP now owns 142,689 shares of the company’s stock valued at $15,560,000 after acquiring an additional 29,305 shares during the period. Finally, Jump Financial LLC acquired a new position in Planet Fitness in the second quarter valued at about $267,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Price Performance

PLNT stock opened at $50.23 on Thursday. The stock has a market capitalization of $3.99 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.09 and a beta of 1.04. The business has a 50-day moving average of $58.46 and a 200-day moving average of $81.03. Planet Fitness, Inc. has a fifty-two week low of $37.03 and a fifty-two week high of $114.47.

Planet Fitness (NYSE:PLNT) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. The company had revenue of $337.24 million during 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%.Planet Fitness’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. Equities analysts expect that Planet Fitness, Inc. will post 3.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Guggenheim decreased their target price on Planet Fitness from $126.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, May 8th. KGI Securities cut Planet Fitness to a “neutral” rating and set a $50.50 target price for the company. in a research note on Friday, May 8th. TD Cowen reissued a “hold” rating on shares of Planet Fitness in a research note on Friday, May 29th. JPMorgan Chase & Co. decreased their target price on Planet Fitness from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada decreased their target price on Planet Fitness from $85.00 to $55.00 and set an “outperform” rating for the company 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, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.81.

Insider Buying and Selling at Planet Fitness

In other news, Director Frances G. Rathke acquired 5,000 shares of Planet Fitness stock in a transaction dated Friday, May 8th. The stock was bought at an average cost of $46.21 per share, with a total value of $231,050.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $231,050. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

About Planet Fitness

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.