Planet Fitness (NYSE:PLNT) Stock Price Down 5.1% – Here’s What Happened

Planet Fitness, Inc. (NYSE:PLNT)’s stock price was down 5.1% on Monday . The company traded as low as $47.08 and last traded at $46.9710. Approximately 1,195,576 shares were traded during trading, a decline of 42% from the average daily volume of 2,068,563 shares. The stock had previously closed at $49.49.

Analyst Ratings Changes

A number of research analysts have commented on PLNT shares. TD Cowen restated a “hold” rating on shares of Planet Fitness in a research note on Friday, May 29th. Morgan Stanley increased their target price on shares of Planet Fitness from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. raised their price target on Planet Fitness from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Robert W. Baird set a $72.00 price objective on Planet Fitness in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Planet Fitness in a report on Monday, September 14th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.24.

Planet Fitness Stock Down 5.0%

The stock has a market capitalization of $3.55 billion, a PE ratio of 15.97, a PEG ratio of 1.07 and a beta of 1.01. The firm’s fifty day moving average is $52.26 and its 200-day moving average is $58.58.

Planet Fitness (NYSE:PLNT) last released its earnings results on Thursday, August 6th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.03. The company had revenue of $365.22 million for the quarter, compared to analysts’ expectations of $356.21 million. Planet Fitness had a negative return on equity of 59.46% and a net margin of 16.88%.The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. Planet Fitness has set its FY 2026 guidance at 3.254-3.254 EPS. On average, analysts expect that Planet Fitness, Inc. will post 3.21 EPS for the current year.

Insiders Place Their Bets

In other Planet Fitness news, Director Christopher Tanco bought 2,328 shares of Planet Fitness stock in a transaction on Monday, September 14th. The stock was bought at an average price of $51.23 per share, with a total value of $119,263.44. Following the completion of the acquisition, the director owned 2,328 shares in the company, valued at $119,263.44. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO William Bode sold 7,000 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $51.22, for a total transaction of $358,540.00. Following the sale, the chief operating officer owned 32,939 shares in the company, valued at $1,687,135.58. The trade was a 17.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLNT. Coldstream Capital Management Inc. raised its position in shares of Planet Fitness by 4.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 3,782 shares of the company’s stock worth $410,000 after buying an additional 168 shares during the period. Clearstead Advisors LLC boosted its holdings in Planet Fitness by 135.9% in the fourth quarter. Clearstead Advisors LLC now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 193 shares during the last quarter. Allworth Financial LP grew its position in Planet Fitness by 15.5% during the second quarter. Allworth Financial LP now owns 1,699 shares of the company’s stock valued at $89,000 after acquiring an additional 228 shares during the period. Fulton Bank N.A. grew its position in Planet Fitness by 3.9% during the second quarter. Fulton Bank N.A. now owns 6,956 shares of the company’s stock valued at $363,000 after acquiring an additional 262 shares during the period. Finally, Larson Financial Group LLC increased its stake in Planet Fitness by 34.1% during the fourth quarter. Larson Financial Group LLC now owns 1,145 shares of the company’s stock worth $124,000 after acquiring an additional 291 shares during the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Planet Fitness Company Profile

Planet Fitness, Inc (NYSE: PLNT) is a franchised fitness-center company that operates under the Planet Fitness brand. Its clubs provide access to cardiovascular and strength-training equipment, free weights, locker rooms, and other basic fitness amenities in a low-cost, welcoming environment designed to appeal to a broad range of consumers.

The company is known for its “Judgement Free Zone” concept, which emphasizes an approachable atmosphere for first-time, casual, and experienced gym users.