T. Rowe Price Investment Management Inc. Acquires 149,503 Shares of Planet Fitness, Inc. $PLNT

T. Rowe Price Investment Management Inc. increased its holdings in shares of Planet Fitness, Inc. (NYSE:PLNT) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,236,173 shares of the company’s stock after acquiring an additional 149,503 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.11% of Planet Fitness worth $1,001,848,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its position in Planet Fitness by 87.4% during the fourth quarter. Corient Private Wealth LLC now owns 9,347 shares of the company’s stock worth $1,014,000 after purchasing an additional 4,360 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Planet Fitness by 62.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,994 shares of the company’s stock valued at $433,000 after purchasing an additional 1,536 shares during the last quarter. Owlhouse Capital LP acquired a new position in shares of Planet Fitness during the 4th quarter worth $8,320,000. Empowered Funds LLC bought a new stake in shares of Planet Fitness during the 4th quarter worth $2,328,000. Finally, Susquehanna Portfolio Strategies LLC lifted its position in shares of Planet Fitness by 203.4% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 65,840 shares of the company’s stock worth $7,142,000 after buying an additional 44,140 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Insider Activity

In related news, Director Frances G. Rathke bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $46.21 per share, for a total transaction of $231,050.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $231,050. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

Planet Fitness Stock Performance

Shares of PLNT stock opened at $52.92 on Friday. The company has a market cap of $4.20 billion, a P/E ratio of 19.11, a PEG ratio of 1.09 and a beta of 1.04. The stock has a 50 day simple moving average of $58.04 and a two-hundred day simple moving average of $80.61. 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 results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $337.24 million for 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 in the prior year, the business earned $0.59 EPS. Planet Fitness has set its FY 2026 guidance at 3.190-3.190 EPS. On average, research analysts predict that Planet Fitness, Inc. will post 3.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PLNT shares. Weiss Ratings cut Planet Fitness from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. decreased their target price on shares of Planet Fitness from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group set a $133.00 price target on Planet Fitness in a research note on Thursday, May 7th. Piper Sandler lowered Planet Fitness from an “overweight” rating to a “neutral” rating in a research report on Friday, February 27th. Finally, KGI Securities downgraded Planet Fitness to a “neutral” rating and set a $50.50 target price for the company. in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Planet Fitness presently has a consensus rating of “Moderate Buy” and an average target price of $77.81.

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.