Pelham Capital Ltd. Increases Stock Holdings in Planet Fitness, Inc. $PLNT

Pelham Capital Ltd. lifted its position in shares of Planet Fitness, Inc. (NYSE:PLNT) by 15.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,044 shares of the company’s stock after buying an additional 19,338 shares during the quarter. Planet Fitness makes up 8.3% of Pelham Capital Ltd.’s holdings, making the stock its 6th largest holding. Pelham Capital Ltd.’s holdings in Planet Fitness were worth $15,516,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Planet Fitness in the fourth quarter valued at about $108,796,000. Junto Capital Management LP purchased a new stake in Planet Fitness in the third quarter valued at about $73,603,000. Freestone Grove Partners LP raised its stake in Planet Fitness by 149.2% in the third quarter. Freestone Grove Partners LP now owns 527,634 shares of the company’s stock valued at $54,768,000 after buying an additional 315,941 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Planet Fitness in the third quarter valued at about $28,515,000. Finally, Mane Global Capital Management LP purchased a new stake in Planet Fitness in the third quarter valued at about $20,760,000. Institutional investors own 95.53% of the company’s stock.

Planet Fitness Stock Down 0.5%

Shares of NYSE:PLNT opened at $51.26 on Friday. Planet Fitness, Inc. has a 52-week low of $37.03 and a 52-week high of $114.47. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.12 and a beta of 1.04. The business has a 50-day moving average price of $62.65 and a 200-day moving average price of $84.65.

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Canaccord Genuity Group set a $80.00 price target on Planet Fitness in a research note on Friday, May 8th. Morgan Stanley cut Planet Fitness from an “overweight” rating to an “equal weight” rating and set a $47.00 price target for the company. in a research note on Friday, May 8th. TD Cowen reiterated a “hold” rating on shares of Planet Fitness in a research note on Friday, May 29th. Weiss Ratings cut Planet Fitness from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Roth Mkm reduced their price objective on Planet Fitness from $109.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.81.

Insiders Place Their Bets

In related news, Director Frances G. Rathke purchased 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 completion of the transaction, the director owned 5,000 shares in the company, valued at $231,050. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

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.