Planet Fitness, Inc. $PLNT Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its position in Planet Fitness, Inc. (NYSE:PLNT) by 12.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,443 shares of the company’s stock after selling 23,036 shares during the quarter. Nordea Investment Management AB’s holdings in Planet Fitness were worth $18,178,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Planet Fitness during the 2nd quarter valued at about $116,175,000. Junto Capital Management LP purchased a new stake in Planet Fitness during the third quarter worth about $73,603,000. Ninety One UK Ltd lifted its position in shares of Planet Fitness by 20.0% during the third quarter. Ninety One UK Ltd now owns 3,461,543 shares of the company’s stock worth $359,308,000 after purchasing an additional 577,637 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Planet Fitness by 152.8% during the second quarter. Squarepoint Ops LLC now owns 851,866 shares of the company’s stock worth $92,896,000 after purchasing an additional 514,876 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Planet Fitness by 15.0% in the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock valued at $277,369,000 after purchasing an additional 332,362 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PLNT shares. Zacks Research cut shares of Planet Fitness from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Stifel Nicolaus set a $105.00 target price on shares of Planet Fitness in a report on Tuesday, February 24th. William Blair reissued an “outperform” rating on shares of Planet Fitness in a research report on Tuesday, January 13th. Wells Fargo & Company began coverage on shares of Planet Fitness in a research note on Wednesday, March 11th. They issued an “overweight” rating and a $90.00 price target for the company. Finally, Canaccord Genuity Group upped their price objective on Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Planet Fitness currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.93.

Planet Fitness Stock Performance

Shares of Planet Fitness stock opened at $75.25 on Wednesday. The business has a 50-day simple moving average of $86.86 and a 200-day simple moving average of $97.41. Planet Fitness, Inc. has a one year low of $73.01 and a one year high of $114.47. The company has a market cap of $6.02 billion, a PE ratio of 28.72, a P/E/G ratio of 1.30 and a beta of 1.25.

Planet Fitness (NYSE:PLNT) last issued its earnings results on Tuesday, February 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. Planet Fitness had a net margin of 16.55% and a negative return on equity of 97.97%. The firm had revenue of $376.26 million for the quarter, compared to analysts’ expectations of $366.48 million. During the same quarter last year, the company earned $0.70 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. Planet Fitness has set its FY 2026 guidance at 3.350-3.380 EPS. On average, sell-side analysts predict that Planet Fitness, Inc. will post 2.51 earnings per share for the current fiscal year.

Planet Fitness Company 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.