BW Gestao de Investimentos Ltda. Buys 30,000 Shares of Planet Fitness, Inc. $PLNT

BW Gestao de Investimentos Ltda. grew its stake in Planet Fitness, Inc. (NYSE:PLNT) by 35.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,061 shares of the company’s stock after acquiring an additional 30,000 shares during the period. BW Gestao de Investimentos Ltda.’s holdings in Planet Fitness were worth $11,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PLNT. Ninety One UK Ltd raised its position in Planet Fitness by 20.0% in the 3rd 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 during the last quarter. Invesco Ltd. raised its position in shares of Planet Fitness by 15.0% during the second quarter. Invesco Ltd. now owns 2,543,501 shares of the company’s stock worth $277,369,000 after acquiring an additional 332,362 shares during the last quarter. Dorsal Capital Management LP lifted its stake in shares of Planet Fitness by 7.6% during the second quarter. Dorsal Capital Management LP now owns 2,475,000 shares of the company’s stock valued at $269,899,000 after acquiring an additional 175,000 shares during the period. Geode Capital Management LLC boosted its holdings in Planet Fitness by 3.7% in the second quarter. Geode Capital Management LLC now owns 1,581,406 shares of the company’s stock valued at $172,479,000 after acquiring an additional 57,103 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Planet Fitness by 8.2% in the second quarter. Franklin Resources Inc. now owns 1,559,976 shares of the company’s stock worth $170,115,000 after purchasing an additional 117,989 shares during the period. 95.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PLNT. Macquarie Infrastructure reduced their target price on shares of Planet Fitness from $112.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, January 29th. Canaccord Genuity Group lifted their target price on shares of Planet Fitness from $139.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of Planet Fitness in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on Planet Fitness from $115.00 to $98.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Planet Fitness in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.58.

Planet Fitness Trading Down 1.1%

Shares of NYSE PLNT opened at $77.82 on Tuesday. The company has a market capitalization of $6.23 billion, a P/E ratio of 29.70, a P/E/G ratio of 1.37 and a beta of 1.25. Planet Fitness, Inc. has a 12 month low of $75.34 and a 12 month high of $114.47. The stock has a 50 day moving average of $93.57 and a 200-day moving average of $99.69.

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

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.