Legato Capital Management LLC Makes New $1.10 Million Investment in Planet Fitness, Inc. $PLNT

Legato Capital Management LLC purchased a new position in shares of Planet Fitness, Inc. (NYSE:PLNT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 10,155 shares of the company’s stock, valued at approximately $1,102,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steadfast Capital Management LP raised its position in Planet Fitness by 4.6% during the third quarter. Steadfast Capital Management LP now owns 1,888,992 shares of the company’s stock worth $196,077,000 after acquiring an additional 83,215 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of 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 period. UBS Group AG raised its position in shares of Planet Fitness by 4.0% in the third quarter. UBS Group AG now owns 824,395 shares of the company’s stock valued at $85,572,000 after purchasing an additional 31,605 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Planet Fitness by 10.2% in the fourth quarter. Van Berkom & Associates Inc. now owns 818,233 shares of the company’s stock valued at $88,754,000 after purchasing an additional 75,614 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of Planet Fitness by 21.0% in the third quarter. Federated Hermes Inc. now owns 753,079 shares of the company’s stock valued at $78,170,000 after purchasing an additional 130,687 shares during the period. 95.53% of the stock is owned by institutional investors.

Planet Fitness Price Performance

Shares of PLNT opened at $52.11 on Monday. The firm has a market capitalization of $4.14 billion, a PE ratio of 18.81, a PEG ratio of 1.13 and a beta of 1.12. The company’s 50-day moving average is $66.67 and its 200-day moving average is $87.80. 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 released its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS 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 for the quarter, compared to the consensus estimate of $298.60 million. During the same period in the prior year, the company posted $0.59 earnings per share. Planet Fitness’s 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. Analysts predict that Planet Fitness, Inc. will post 3.18 earnings per share for the current fiscal year.

Insider Activity at Planet Fitness

In other Planet Fitness news, Director Frances G. Rathke purchased 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 completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $231,050. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PLNT shares. Morgan Stanley lowered shares of Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 price objective on the stock. in a research report on Friday, May 8th. Piper Sandler lowered shares of Planet Fitness from an “overweight” rating to a “neutral” rating in a research report on Friday, February 27th. Robert W. Baird set a $80.00 price objective on shares of Planet Fitness in a research report on Friday, May 8th. William Blair lowered shares of Planet Fitness from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. 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 issued a Sell rating to the stock. Based on data from MarketBeat, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.81.

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.